15:20 May. 23, 2016
Kremlin claims to have deprived food producers of 9 billion U.S. dollars by banning food import
Russia claims to have estimated the total sum of losses the Western businessmen went through after the food ban in 2014. According to the report "Food embargo: conclusion 2015" by Russian governmental analytical centre food producers from the E.U. and the U.S. lost nearly 9,5 billion U.S. dollars on having lost the Russian outlet.
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It is stressed in the document the first so called wave of food ban was the most significant. In August 2014 Russia banned the import of foreign beef, pork, poultry, fish, and dairy products from the E.U., the U.S., Canada, Australia, and Norway.
The aforementioned countries had previously launched sectoral economic sanctions against Russia in view of its military aggression in eastern and southern Ukraine. The economists then estimated, the West is to lose export more than 9 billion U.S. dollars in total.