The hopes of European food exports heading back to Russia in the short term appear to be slim.On Tuesday, the Russian federation announced that it would be extending the ban on the importation of foodstuffs from the European Union, the United States, Norway and Australia for a further six months.
The hopes of European food exports heading back to Russia in the short term appear to be slim.
On Tuesday, the Russian federation announced that it would be extending the ban on the importation of foodstuffs from the European Union, the United States, Norway and Australia for a further six months.
The EU decided to extend its sanctions against Russia until 31 January 2016. In response to this alleged “Russaphobe” lobby in Europe, Russia has decided to match the food imports ban until January.
In July 2014, Russia announced that it was imposing a 12-month man on food from western nations in response to sanctions placed by the EU on Russia over the conflict in Ukraine.
A statement from the European Union following a conference in Luxembourg this week said Russia’s actions were playing a “destabilising role in Ukraine”.
Europe froze the assets and imposed visa bans on Russia over its involvement in the conflict last year.
The European Union has said it is willing to reverse the sanctions it imposed on Russia if Russia is willing to negotiate on the Ukraine conflict.
About 10% of EU agricultural exports – worth approximately €11.8bn – went to Russia last year.
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