Russia fights economic sanctions with embargoes
Russia has banned food imports from the Western economies as a response to their economic sanctions for Russia’s intervention in Ukraine.
Russia has banned food imports from the Western economies as a response to their economic sanctions for Russia’s intervention in Ukraine, the Polish media reported in August.
“The Russian ban on import of foods will include the EU, the USA, Australia, Canada and Norway,” Russia’s Prime Minister Dmitry Medvedev announced. “The ban will come into force beginning from August 7th and will last for a year.”
The embargo will encompass meat, fish, seafood, milk and dairy products, as well as fruit and vegetables. Imports from Japan and Ukraine will be excluded from the ban, as will all products brought by the Russians into their homeland.
The decision is already taking its toll on Polish exporters, with some of them admitting that they are forced to entirely revise their strategies as Russia has to date been one of their major export markets.
Medvedev stated that the length of the embargoes will depend on the lessening of the economic sanctions that had been imposed on Russia.
It is yet uncertain how the situation will evolve on a political level. However, exporters in the EU are already adjusting to this situation by re-shaping their export strategies and finding new business partners.
Photo courtesy of Wikipedia.
