Russia Bans Western Food Imports over Ukraine Crisis

Exports of consumable goods were worth to Russia were worth €12.2bn (£9.7bn) last year

Exports of consumable goods were worth to Russia were worth €12.2bn (£9.7bn) last year

Dmitry Medvedev, Russian prime minister announced in a legislature meeting on Thursday that it has prohibited fruit, vegetables, meat, fish, milk and dairy imports from the United States and the European Union, Australia, Canada and Norway. Medvedev said the boycott was effective immediately and will continue for a year, over the Ukrainian crisis, according to the country’s agricultural watchdog. Russian authorities were on Wednesday asked to concoct a list of western agriculture products and raw materials which have now supposedly banned.

Moscow’s move comes in respond to the establishing of the monetary airline subsidiary of Aeroflot as an after effect of EU sanctions over Moscow’s backing for revolutionaries in Ukraine. Medvedev likewise said authorities were considering a boycott on European airlines which will be traveling to Asia over Siberia.

Russia, which is Europe’s second-largest market for consumable goods has since long been an essential consumer of Polish pork and Dutch fruits and vegetables. Exports of consumable goods were worth to Russia were worth €12.2bn (£9.7bn) last year, after a years of double-digit modest growth.

The UK is less inclined to miss out; last year its largest export of food and drinks products was £17m of frozen fish and sea foods, £5.7m of cheddar and £5.3m of coffee.

Agriculture food products, drinks and raw materials have been wounded up in political tensions between Russia and the west already. Lately Russian food safety officials have banned the import of Polish fruits and vegetables, while McDonald’s cheeseburgers and milkshakes are being inspected by a territorial entity of consumer protection agency by Rospotrenadzor.

On escalation of the Ukraine crisis, Russia banned EU pork at the beginning of this year, thereby, reducing 25% of all European pig meat exports in a move that according to the European Commission “exposed European farmers to significant losses”.

Last week, EU nations and the US ventured reformatory activity against Russia in wake of the Moscow’s backing for rebels in Ukraine, which has been unfaltering notwithstanding the blowing up of Malaysian airliner MH17.

State-owned banks in Russia have been cut off from Europe’s capital markets, while Russian defense and energy firms will now no longer be able to import hi-tech western equipment that could have been utilized for military purposes, fracking or Artic oil exploration.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

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