Russia assessed the damage from Western suppliers embargo in $9.3 billion


Grocery embargo from the EU and the United States, entered Russia in response to international sanctions cost the country $9.3 billion this is stated in the report “Food embargo: end of 2015”, which was prepared by the analytical center for the Russian government. Its contents reviewed TASS. In the damage assessment does not account for losses incurred by Turkey and Ukraine.

As follows from the document, the most ambitious was the “first wave” of the embargo. In August of the year before a ban were beef, pork, edible offal of poultry, fish, milk and dairy products, as well as a number of vegetables, fruits and nuts from the EU countries, USA, Canada, Australia, Norway. Based on the total value of similar goods, which these countries supplied to Russia in 2014, under embargo fell, imports $9.1 billion.

Experts of the analytical center recalled that in June last year, the embargo was extended for a year, and in August, expanded restrictions on Iceland, Albania, Montenegro and Liechtenstein after they have supported anti-Russian sanctions. The prohibition also included products worth $241 million that is total of grocery embargo has affected the volume of imports by more than $9.3 billion, estimated by experts.

In August last year, representatives of the European farmers ‘ associations Sora-Codes said the damage to farmers from embargo of Russia amounted to €5.5 billion In July last year, representatives of the Austrian Institute of economic research (WIFO) has calculated that the EU were at risk of losing because of anti-Russian sanctions and retaliatory measures of Moscow approximately €100 billion and more than 2 million jobs.

In June last year, the food embargo was extended for a year until August 2016, in connection with the extension of anti-Russian sanctions. On 29 July the President of Russia Vladimir Putin has signed the decree about the destruction of products that fall under the ban.