Russia reacts to European sanctions with continued food import ban | RetailDetail

Russia reacts to European sanctions with continued food import ban

Russia reacts to European sanctions with continued food import ban

Russia will continue its food import ban from Western countries for another 6 months as a response to the European sanctions against Russia, which were prolonged earlier this week.

"Reciprocity rule"

Russian Prime Minister Dmitri Medvedev has ordered his government to prepare a decree in name of President Vladimir Putin. This decree will inform the European Union about the extension of the food import ban. Kremlin's spokesperson, Dmitri Peskov, had already revealed on Monday that Russia would react based on the "reciprocity rule" and called the Western sanctions "unfounded and illegal".

 

Earlier that day, the European Union had extended the economic sanctions against Russia for 6 months after the deadly fights over the weekend in the eastern part of Ukraine. The sanctions, which not only hurt the Russian but also the European economy, will now continue until 31 January 2016. Belgian export of pears, apples and pork has dropped by a fifth, for example.

 

Russia forbade all import of fruit, vegetables, meat, fowl, fish and dairy from Western countries that had issues sanctions against Russia in relation to the Ukrainian crisis. The European leaders had decided in March that the sanctions would persist until the complete cease-fire in Eastern Ukraine was applied. The West is convinced Russia is supplying military assistance to the rebel forces, although Russia vehemently denies any wrongdoing. The United Nations have claimed the Ukrainian conflict has already cost 6,400 people their lives.

Questions or comments? Please feel free to contact the editors


Suitsupply suffers losses because of expansion

15/05/2018

Dutch Suitsupply has experienced a decent turnover growth last year, but its net result tumbled below zero because of its huge investments. Nevertheless, that is the only way forward according to its founder, whose focus is still fixed on the United States.

Starting this Friday, Belgium has its own national e-commerce event

15/05/2018

Move over, Black Friday! This week, Belgium launches its own national e-commerce event as Jack & Jones, Kiabi, La Redoute, Sarenza, Tape à l'Oeil and Veritas organise the first Belgian Friday.

H&M is turning to algorithms to boost sales again

14/05/2018

In an effort to reverse the decline in its worldwide sales, H&M is using technology that will help the world’s largest clothing brand stock its stores more efficiently, sell more effectively and adapt more quickly to current consumer trends.

Zalando's profit wiped away in first quarter

08/05/2018

German online retailer Zalando saw its first quarter profit completely wiped away: last year's 5.1 million euro net profit turned into a 15 million euro loss. Turnover grew 22 %, investments being the cause for both.

Strong online growth for Hugo Boss

03/05/2018

German fashion brand Hugo Boss managed growth in every region in the first quarter. Group turnover grew 5 % to 650 million euro, partially thanks to strong web shop sales.

France will impose recycling for unsold clothing in 2019

02/05/2018

The French government plans to impose a ban on the disposal or destruction of unsold clothing by fashion companies. The measure extends the rules already in place for food waste to the spillage of clothing.