Russia closes its market to products from Australia, Canada, U.S. and E.U.! Wow, this is heavy stuff going on.. Russian President Vladimir Putin has signed a decree to prohibit or restrict the entry of products from countries that have joined the sanctions against Russia. The decree on the application of certain special economic measures to ensure the security of the Russian Federation was signed Wednesday by the Russian president, according to the Kremlin website. It is expected that the measures recently approved are valid for one year. From Wednesday is prohibited or restricted entry into Russian territory of agricultural products, food and raw materials originating in countries that have joined the sanctions policy of Washington and Brussels. Measures agreed by Putin apply specifically states that it has decided to impose economic sanctions against legal entities and (or) Russian natural or have joined this decision, stated in the document. Thus, Russia closed its market to products from USA, EU, Japan, Australia and Canada. Russian President instructed the Government to determine the products that can be imported from countries that have adopted sanctions against Moscow. The Russian government is already preparing the list of agricultural products and foodstuffs whose entry into Russian territory may be banned, said spokeswoman Russian Prime Minister Natalia Timakova. The Russian agricultural sector can supply the products hitherto imported The Russian agribusiness has sufficient capacity to supply the products that Russia has banned import from USA, the EU, Japan, Australia and Canada, countries that are on the list yet because the sanctions have been applied against Russia, said Itar-Tass director of the Association of Manufacturers and Suppliers of Food Products, Maxim Protasov. Many categories of Russian producers are willing to increase production capacity to achieve this goal, said Protasov. Moreover, Putins decree promote consumption of local organic products in the Russian market, says the chairman of the State Duma Agricultural Issues Nikolai Pankov. According to the politician, the measures adopted by the Russian president also stimulate agricultural productivity and attract more business investment in the relevant agricultural lines, resulting in an increase in jobs in the agribusiness sector, he added. On Tuesday, the head of Russian state transmitted to the Government instructions to prepare a cautious response to Western sanctions. We must act with care in order to support domestic producers and not harm consumers, said the president. On July 29 last the European Union agreed to impose economic sanctions on Russia affecting its oil and defense industry products and sensitive dual-use technologies. The sanctions took effect on August 1.
Posted on: Thu, 07 Aug 2014 03:55:55 +0000
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