The Countries Hardest Hit By Russia's Trade Ban
Russia banned imports of U.S. and European agricultural goods last week, a move that illustrated how far ties between Moscow and the West have deteriorated since the onset of the crisis in Ukraine. The sanctions are bad news for European farmers at a time of slow economic growth and falling food prices in the EU. Poland exports over $1.1 billion of agricultural products to Russia every year and its fruit sector, apples in particular, is set to be hard hit.
The Norwegian seafood industry is also searching for new export markets, especially for salmon. Norway exported over a billion dollars worth of fish to Russia in 2013. The situation is also starting to have serious repercussions in Russia itself. Food prices in Russia were already high before the ban and now they're expected to increase even further while shortages could also arise - imported ingredients account for about 50 percent of Russia's restaurant market alone.
- Global population by continent as of mid-2013 (in millions)
Global population by continent 2013
- Global youth unemployment rate from 2008 to 2012 with a forecast up to 2018
Global youth unemployment rate until 2018
- Global support for tougher economic sanctions against Iran, 2012Global support for tougher economic sanctions against Iran, 2012
- Monthly unemployment rate in Russia October 2013Monthly unemployment rate in Russia October 2013
- Gross domestic product (GDP) growth rate in Russia 2nd quarter 2013Gross domestic product (GDP) growth rate in Russia 2nd quarter 2013
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