(VOVworld) – The European Union has lost 5 billion euros due to a Russian ban on agricultural products after the EU imposed sanctions on Russia over the Ukraine crisis.
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| Russia’s food embargo will affect 4.2 per cent of the EU’s total exports, with vegetables, fruit, and milk being the hardest hit. (Photo: DW) |
According to an announcement by European Commissioner for Agriculture and Rural Development Dacian Ciolos on Wednesday, Russia’s food embargo will affect 4.2 per cent of the EU’s total exports, with vegetables, fruit, and milk being the hardest hit. The EU has decided to allocate another million euros to help farmers find new partners.
On August 7th, Russia announced a ban on beef, pork, vegetables, poultry, fish, and milk imported from the EU, Australia, Canada and the US in retaliation for the West’s sanctions against Russia over the Ukraine crisis. EU agricultural ministers will meet Friday in Brussels to discuss new markets for their exports.