Economic sanctions

‘Russia launches trade war with EU and US’

Published on 8 August 2014 at 10:18

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In response to sanctions imposed over the Ukraine crisis, Russia has banned food imports from the European Union and the United States in a move that could affect £50m (€63m) worth of Scottish goods and leave shelves empty in Russian cities, writes The Scotsman.
Although Scottish exports of dairy products, eggs, fish and seafood, fruit, vegetables and cereals are expected to suffer, the paper notes widespread support for the sanctions. “We recognise that this is a serious geopolitical issue,” says a fishing industry representative. “The solution to this international dispute is for Russia to come to the negotiating table.”
The daily also observes the harshest effects of Russia’s ban could be felt at home —

Russia depends heavily on imported foodstuffs – most of it from the West – particularly in the largest and most prosperous cities such as Moscow. […] The damage to consumers inflicted by the ban will be felt particularly hard in big cities such as the capital, where imported food fills an estimated 60-70 per cent of the market.

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