Russian President Vladimir Putin recently signed a decree for extending Moscow’s embargo on food products being imported from the European Union (EU) to the end of 2020. This decision was in continuation of Russia’s s retaliation against sanctions over Ukraine.
A decree signed by President Vladimir Putin posted on Moscow’s official government website, reads that ban on produce, dairy, meat and most other foods imported from EU will now stretch to December 31, 2020.
Reason for the ban:
In 2014, Russia imposed an official ban on a wide range of imports from the EU and other countries. This is to retaliate the international sanctions over Moscow’s role in the Ukraine crisis.
EU agri-food exports to Russia initially dropped almost 50%. The European Commission explained that the economy fell from around €11.8 billion (US$13.4 billion) in 2013 to around €6 billion (US$6.8 billion) in 2017.