Saturday, May 28, 2016

Russia threatens embargo extension of 1.5 years – Puls Biznesu

“ordered to prepare proposals for the extension of retaliation is not a year, but by the end of 2017,” – said Prime Minister Dmitry Medvedev was quoted by Russian media.

Us under the Russian embargo banned is import to Russia most of the articles food products originating from Western countries, mainly the European Union, which introduced sanctions for the annexation of the Crimea and supporting pro-Russian separatists in Donbas.

agriculture Minister Aleksandr Tkachev said that Russia has no plans to expand the list of items covered by the embargo.

According to Medvedev, the extension of the embargo for a year and half will sufficiently in advance to plan investments in the Russian agri-food sector, which dim the return of western competition.

“This is great news for domestic agricultural producers. This (extension embargo) will allow the planning of investments in the industry, enhancing the quality and competitiveness of Russian food, “- said Tkachev.

embargo, which expires in August, it was already extended once in the last year.

An internal report of the Russian government, revealed by the agency TASS, it is estimated that the countries embargoed suffered on this account a loss of 9.3 billion euros.

Economic sanctions against Russia, introduced in 2014 response to the annexation of the Crimea and Moscow’s support for separatists in eastern Ukraine, expire at the end of July. At the turn of June and July the EU must decide on their maintenance. Already last year, the EU made the lifting of sanctions from the implementation of the agreements with Minsk from 2015 on ending the conflict, which killed already 9.3 thousand. people.

Last week, the head of EU diplomacy Federica Mogherini said she expects the extension of sanctions against Russia. Also, Chancellor Angela Merkel at the G7 summit in Japan, spoke out against the lifting of sanctions, recognizing that it is too early for that.

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