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Country Report Lithuania

  • ID: 2138679
  • June 2015
  • Region: Lithuania
  • 25 Pages
  • The Economist Intelligence Unit

Following the EU's decision to extend its sectoral sanctions until January 31st 2016, Russia has extended a ban on Western food products by one year.

The import embargo affects almost all categories of food (but not alcoholic beverages) from EU member states, Norway, the US, Canada and Australia. The list of banned food products was left virtually unchanged by the Russian government.

Russia's food ban has had a mixed impact on EU food exports. Data from Eurostat show that total EU food exports to Russia fell by 42% (EUR3.6bn) in August 2014-April 2015 compared with the year-earlier period. Despite the ban, and a fall in global food prices, total extra-EU food sales actually rose by 5% year on year over this period. This indicates either that member states successfully identified alternative customers, or (as anecdotal reports have suggested) that they have been able to evade the ban by supplying Russia through third countries such as Belarus.

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Country Report Lithuania

Russia extends food ban for another year
Event
Analysis
Impact on the forecast

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Note: Product cover images may vary from those shown

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