Europe has moved fast to ensure Russia’s targeting of Europe’s farmers with sanctions does not produce any explosive political fallout.
The European Commission has decided it will compensate all producers affected by Moscow’s ban on western food imports to the tune of 125 million euros, until at least the end of November.
The ban has created a glut on European markets, forcing down fruit and vegetable prices in particular.
“So the idea of these measures is to ease the pressure on European markets given the loss of the export market at such relatively short notice,” said Commission spokesman Roger Waite.
Russia is already looking for alternate supplies with meetings with Turkish producers but Russian customs officials report a large increase in food confiscations at the border. On Monday, fearing shortages of beef, fish, milk and cheese, half of which are imported, Moscow said Belarus and Kazakhstan will be allowed to re-export foreign food to Russia.
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