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.
- Level of support for economic sanctions on Russia in the UK February 2015Level of support for economic sanctions on Russia in the UK February 2015
- Global support for tougher economic sanctions against Iran, 2012Global support for tougher economic sanctions against Iran, 2012
- UK public support for imposing additional sanctions on Russia as of February 2015UK public support for imposing additional sanctions on Russia as of February 2015
- Proportions of economic sectors in GDP in selected countries 2015Proportions of economic sectors in GDP in selected countries 2015
- Unemployment rates in major industrial and emerging countries 2015Unemployment rates in major industrial and emerging countries 2015
- Forecast on gross domestic product (GDP) growth in selected countries until 2015Forecast on gross domestic product (GDP) growth in selected countries until 2015
- Monthly unemployment rate in industrial and emerging countries May 2016Monthly unemployment rate in industrial and emerging countries May 2016
- Gross domestic product (GDP) growth rate in Russia 1st quarter 2016Gross domestic product (GDP) growth rate in Russia 1st quarter 2016
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