EC: compensation to victims of the Russian embargo countries lack

RIGA, October 29. /Corr. Evgeniy Antonov/. Compensation that the European Commission (EC) highlights the affected by the food embargo of the Russian Federation countries, it is not enough to fully repair the damage. On Thursday in an interview with correspondent. European Commissioner for agriculture Phil Hogan.

“Compensation is not enough. We never have enough cash to patch up a hole in the market. All we’re doing is trying to mitigate the damage for producers,” he said.

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As added Hogan, the losses of the EU from the first year of operation of the food embargo Russia amounted to €5.2 billion In September, the European Commission decided to allocate €500 million for compensation to victims of agrarian crisis in the EU.

To assess the timing of the lifting of sanctions Phil Hogan refused.

“I hope that common sense will prevail. I want to see stability in our region. However, Russia must play its role in this process,” he said.

Economic sanctions against Russia the EU imposed on August 1, 2014 and later extended until the end of January 2016. In August 2014 Russia introduced a package of measures on sanctions the United States, Australia, Canada, EU and Norway. They were a prohibition for a period of one year for import to Russia fruits, vegetables, dairy and meat products. In June, the food embargo was extended until 5 August 2016.

Phil Hogan arrived on Thursday in Riga to participate in the seminar on attracting investment in agriculture.