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Russia extended its ban on food products from the European Union up to 31 December 2020

Posted on:26 Jun 2019 18:39:11
Russia extended its ban on food products from the European Union up to 31 December 2020
26 June 2019 Current Affairs: Russian president Vladimir Putin has signed for extending Moscow’s Embargo on food products from European Union (EU) upto 31 December 2020. This is due to Russia's retaliation against sanctions over Ukraine. The decree prohibits a number of imports from various countries for one year which includes agricultural products, raw materials and other food items.
Russia primarily targeted their restrictions on finance, energy and defence sectors of Russian economy. Russian economy is affected by pushing up the food products. 

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.

About Russia:
♦ President: Vladimir Putin
♦ Prime Minister: Dmitry Medvedev
♦ Capital: Moscow
♦ Official/National language: Russian
♦ Currency: Russian ruble (₽) (RUB)
Russia is a transcontinental country in western Europe and north Asia.
Russian president Vladimir Putin has signed for extending Moscow’s Embargo on food products from European Union (EU) upto 31 December 2020. This is due to Russia's retaliation against sanctions over Ukraine. The decree prohibits a number of imports from various countries for one year which includes agricultural products, raw materials and other food items.
Russia primarily targeted their restrictions on finance, energy and defence sectors of Russian economy. Russian economy is affected by pushing up the food products. 

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.

About Russia:
♦ President: Vladimir Putin
♦ Prime Minister: Dmitry Medvedev
♦ Capital: Moscow
♦ Official/National language: Russian
♦ Currency: Russian ruble (₽) (RUB)
Russia is a transcontinental country in western Europe and north Asia.

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