Russia’s agriculture minister warned today that Moscow must spend billions of dollars in the coming years subsidising farmers in order to avoid a shortage caused by its ban on most Western foods.
Agriculture Minister Nokolai Fyodorov’s stark comments represented Moscow’s first admission that its decision to strike back at US and EU sanctions with sweeping food bans may have long-term costs for both its budget and consumers.
The trade war is part of a broader crisis in East-West relations sparked by Russia’s perceived attempts to split strife-torn Ukraine in two after Kiev’s decision to seek a closer political and economic alliance with Europe. Russia relies heavily on foreign fruits and vegetables because its long winters and inhospitable climate keep farmers from growing produce desired by the country’s booming middle class.
It also imports huge volumes of Australian and European meat along with US poultry and Norwegian salmon - all banned under Vladimir Putin’s orders earlier this month.
Agriculture Minister Nokolai Fyodorov’s stark comments represented Moscow’s first admission that its decision to strike back at US and EU sanctions with sweeping food bans may have long-term costs for both its budget and consumers.
The trade war is part of a broader crisis in East-West relations sparked by Russia’s perceived attempts to split strife-torn Ukraine in two after Kiev’s decision to seek a closer political and economic alliance with Europe. Russia relies heavily on foreign fruits and vegetables because its long winters and inhospitable climate keep farmers from growing produce desired by the country’s booming middle class.
It also imports huge volumes of Australian and European meat along with US poultry and Norwegian salmon - all banned under Vladimir Putin’s orders earlier this month.