Bulgarian Producers Lose BGN 82 M over Russian Food Imports Ban

Bulgarian farmers have suffered BGN 82 M (EUR 41 M) in lost revenue as a result of the Russian ban on food imports from the West, Agriculture Minister Desislava Taneva said on Sunday.

Since Moscow banned food imports from the EU, the US, Canada, Norway and Australia in August 2014 in response to Western sanctions against Russia over its involvement in the crisis in Ukraine, Bulgarian dairy producers have lost BGN 44 M (EUR 22 M), Taneva said on BNR radio station.

By end-June 2015 the Bulgarian growers of fruit and vegetables have lost BGN 22 M, while the remaining losses from the Russian ban were recorded in the meat producing and processing sector.

“The best solution is to drop these sanctions, " Taneva said.

The food ban, which Russian President Vladimir Putin extended for a year in late June, includes beef, pork, fish, cheese, vegetables, fruit, milk and dairy products. The extension of the ban came after EU foreign ministers agreed earlier in June to prolong economic sanctions against Russia to January 2016 to ensure the Kremlin fully implements Ukraine peace accords.

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