Russia Hits Back at Sanctions With Ban on Agricultural, Raw Material Imports
Russian President Vladimir Putin issued an executive order on Aug. 6 that provides the Russian government the authority to ban and restrict certain “agricultural produce, raw materials and foodstuffs” imported from the U.S. and other nations that have recently imposed…
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sanctions on Russia. The decree, put into effect for one year, does not specify exactly what products would be hit by the bans. Putin ordered the Russian government “to take measures to ensure balanced goods markets and prevent accelerating price rises for agricultural products and foodstuffs; to organize together with regional authorities timely monitoring of goods markets; and act together with associations of goods producers, retailers and organizations to take measures to increase supply of domestic goods." The U.S. and European Union levelled another round of sanctions on Russian entities on July 29, following a series of U.S. sanction packages in the past roughly six months (see 14073013). Russian Prime Minister Dmitry Medvedev said during a televised cabinet meeting the executive order would target fruit, vegetables, meat, fish, milk and dairy imports, the Associated Press and other outlets reported (here).