Russian Agriculture: The Impact of Sanctions
15 Pages Posted: 14 Oct 2015
Date Written: 2014
On 7 August 2014 Russia introduced restrictions on import of food products from countries of the European Union, the US, Canada, Norway and Australia (hereinafter – retaliatory sanctions) in response to their sanctions against Russia driven by political developments in the Ukraine. This step astonished a lot of people in the country and even more so abroad as at the moment of enforcing retaliatory sanctions Russia remained a large-scale importer of foodstuffs. For many years one could observe an upward trend in imports of agricultural and food products that by 2013 amounted to $43.2bn.
Keywords: The impact of sanctions
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