Sanctions: Russia retaliates

Those countries imposing sanctions on the Russian Federation over the Ukrainian crisis have today been issued with a reply: Russia has banned agricultural imports and raw materials, including foodstuffs.

The decree has a duration of one year, from now. Here is a transcript from the decree:

"With the aim of protecting the national interests of the Russian Federation and in accordance with the Federal Laws of 30 December 2006 No 281-FZ "On special economic measures" and of 28 December 2010 No 390-FZ "On security", I decree that: "State power bodies of the Russian Federation, federal state bodies, local government bodies, legal entities set up in accordance with the legislation of the Russian Federation, and organizations and individuals that come under the jurisdiction of the Russian Federation shall proceed in their actions from the fact that, for one year from the date when this decree comes into force, foreign economic transactions involving the importation into the territory of the Russian Federation of certain types of agricultural produce, raw materials and food of which the country of origin is a state which has taken a decision to impose economic sanctions against Russian legal entities and/or individuals, or joined such a decision, are banned or restricted..."

European Union fruit and vegetable produce represents around 2.7 billion USD-worth of exports to Russia.