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Russia - Food counter-sanctions extended for another year

Russia (bbabo.net), - From January 1, 2022, the food embargo is extended for another year - until December 31. The corresponding decree was signed by Russian President Vladimir Putin back in September 2021.

Counter-sanctions have been extended to "protect national interests," the document says. The prodembargo has been in effect since August 2014 against several countries that have imposed sanctions on Russia after the annexation of Crimea. The ban affected fish, meat, vegetables, fruits and other foodstuffs. The list of countries and products has been replenished several times. Since August 2015, sanctioned products must be destroyed. Counter-sanctions were first introduced for a year, but then they were extended every year.

Experts have repeatedly acknowledged that the food embargo was good for Russia. If, according to the results of 2013, we imported food for 43.3 billion dollars, in seven years the figure fell to less than 30 billion dollars, in 2021 the import of food continued to decline. Prodembargo not only reduced food imports, but also spurred the development of the domestic agro-industrial complex. At the end of last year, for the first time in its history, the volume of food exports in Russia surpassed imports, exceeding $ 30 billion. This year, by mid-December, Russia has already exported over $ 34 billion worth of foodstuffs. Exports of fat-and-oil, meat and dairy products, food and processing industry products increased significantly.

In the first six months after the introduction of the pro-embargo on products similar to the sanctions, prices increased by almost 30%. And the Russians were forced to spend an additional 4.4 thousand rubles annually. Such calculations were made by the Gaidar Institute, RANEPA and the All-Russian Academy of Foreign Trade of the Ministry of Economic Development. But then, little by little, the situation leveled off, and a rapid growth in production began in many industries. According to the Ministry of Agriculture, in 2014 alone, 1.4 trillion rubles of investments were attracted to the agro-industrial complex. As a result, for example, meat imports fell by about 90%. The import of cheese and cottage cheese was reduced by 50%.

However, there is still a shortage of domestic products in some positions in the dairy industry, as well as in vegetables and fruits. We produce the latter less than 50% of the demand.

Russia - Food counter-sanctions extended for another year