Expert: EU expansion to reduce agricultural and energy trade with Russia

The addition of 10 new member states to the EU will significantly reduce the amount of agricultural trade between the EU and Russia, said Deputy Director of the Russian Academy of Science's Institute of World Economic and Political Research Svetlana Glinkina while presenting her report yesterday on the economic consequences of EU expansion for Russia.

She said that the 10 new EU members would undergo an EU-financed modernization of their agricultural industrial complexes. 'The subsidizing by the EU of their agricultural industry could increase the amount of less expensive food items on the Russian market, which would bring losses to Russian producers,' said Glinkina. She added that EU protectionist policies in agriculture could also 'lower the possibilities for Russian agricultural exporters to Central and Eastern Europe and make Russian products less competitive.'

Moreover, Glinkina said at the present time that Russia was satisfying up to 75% of these countries' energy needs. 'After these 10 new countries join the EU, they will institute 'EU energy politics' which recommend limiting imports of energy resources to 25-30% of total consumption, said Glinkina.

Subscribe to Pravda.Ru Telegram channel, Facebook, RSS!

Author`s name Editorial Team