Russian import restrictions cause headaches

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The Russian flag

Following the EU’s decision, announced late last week, to impose sanctions on Russia, Russia has responded with a boycott on agricultural products from countries that have adopted sanctions.

Following the EU’s decision, announced late last week, to impose sanctions on Russia, Russia has responded with a boycott on agricultural products from countries that have adopted sanctions, including the EU, the US, Australia, Canada and Japan. As such, the boycott will affect the Dutch trade position with Russia. Dutch exports to Russia in 2013 totalled more than EUR 6.8 billion, with agricultural and food products representing almost EUR 1.5 billion. Although these exports to Russia make up less than 2% of the total agricultural and food exports, Russia is nevertheless an important market for Dutch foodstuffs and floricultural products. This Sector Update looks at how important the Dutch agricultural and food trade with Russia is and what impact the boycott might have.

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