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IKEA Drops Salmon, Cheese From Menu Due to Sanctions
20.08.2014 15:17
IKEA Drops Salmon, Cheese From Menu Due to Sanctions
Photo Credit: http://www.ikea-club.org

Swedish furniture giant IKEA has announced it will not replenish its supplies of Norwegian salmon and traditional Swedish cheese in its stores due to the food embargo imposed by the Russian government on August 7.

      Some of the items will remain on the menu, however, including sausages that are produced locally according to the original technology, using Russian or Brazilian meat.

      Earlier, Russia-IC reported that Switzerland rejected an appeal from other European countries hit by the Russian food embargo to export their products via its territory in the latest twist of the sanctions war, says The Wall Street Journal.

      Earlier, Switzerland announced it will not help Russia to bypass the EU’s restrictions, either.

      There’ve been many projections of the economic effect of the sanctions. Some said they will hurt the Russian economy by €23 billion this year (1.5 percent of its GDP) and €75 billion in 2015 (4.8 percent of its GDP).

      The EU will also be hurt by the capital markets restrictions and trade bans for defense, high technology and goods that can be used both for military and defense purposes.

      There’s been a lot of concern from southern member states, including Greece and Italy, where fragile economic growth could give way to recession.

      In Germany, the Committee on Eastern European Economic Relations, a powerful lobby group, said about 350,000 German jobs are under threat.

       




Author: Mikhail Vesely

Tags: Russian sanctions     

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