European agriculture companies lost $3.5 bn due to Russian sanctions

Producers of agricultural products in the European Union have lost about $3.5 bn because of the food embargo imposed by the Russian government in response to Western sanctions, head of the Russian agriculture watchdog, Rosselkhoznadzor, Sergey Dankvert said on air of Rossiya-24 TV-channel.

He noted that the figure included only direct losses starting from last August. “I have counted at minimum, comparing the quantity (of goods) received in 2013 and now. It means the Europeans, for instance, delivered goods worth $15 bn and now they delivery by $3.5 less,” the Rosselkhoznadzor head said.

In early August 2014, the Russian government banned supply of beef, poultry, pork, fish, cheese, milk and fruits and vegetables from Australia, Canada, the European Union, USA and Norway for a year.