Thursday, 7 August 2014

Russia retaliates with bans on food imports from EU, U.S.

Russian Prime Minister Dmitry Medvedev laid out the details of his country’s response to Western sanctions on Thursday, banning imports of a wide range of foods and considering wider retaliatory measures.
“Fulfilling the presidential order, I’ve signed a government decree. Russia imposes a total ban on deliveries of beef, pork, fruit, vegetables, poultry, fish, cheese, milk and dairy products,” Medvedev said, opening the weekly government session.
Medvedev said Russia won’t import those products from the European Union, the U.S., Australia, Canada and Norway for one year, adding that the decision could be reviewed before the end of 12-month period.
Medvedev said Russia has also prohibited Ukrainian airlines from making transit flights over Russia’s airspace to Azerbaijan, Georgia, Armenia and Turkey. He said Moscow is considering imposing similar restrictions on EU and U.S. companies, banning them from transit flights over Siberia to Asia.
The moves are the latest sign of defiance from the Kremlin in the face of growing Western pressure to end its support for pro-Russia separatists fighting in Ukraine. By targeting imported foods, the Kremlin is sending the message that the country is ready to make sacrifices in order to stand up to the West.
At the same time, the import bans will have a limited impact on the bulk of Russia’s population, which relies mainly on domestic foods and imports from other former Soviet countries.
The food ban would hit farmers in Eastern Eurohpe, but would have little impact on the EU’s overall economy.
Source:Marketwatch

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