Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Russian Sanctions Could Cost Poland 800 MLN
22.08.2014 22:21
Russian Sanctions Could Cost Poland 800 MLN
Photo Credit:

The Polish economy could lose as much as 800 million euro due to the Russian food embargo, according to the Polish Federation of Food Producers.

      The exact figures could be different – the current projection is based on the annual turnover of the goods that fall under Moscow’s sanctions. The Federation hopes to find new markets but it could take several months and involve a lot of paperwork, including getting certificates. The organization also expects to get compensation for the losses from Brussels.

      In 2013, Poland exported 1.3 billion euro worth of food, with fruit and vegetables accounting for more than a third of the total turnover.

      Poland is not alone in its concerns – Italy, Greece, Spain and Finland have deplored the sanctions war that is ongoing between the West and Russia.

      According to The Economist, the pain Russian firms will suffer from these sanctions could go up to one trillion US dollars (€744bn).

      But one thing is certain – 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 EU sanctions Crimea Ukraine crisis  

Next Previous

You might also find interesting:

The Number of Companies Set Up in Russia in 2018 Fell by Almost 20%
The Number of People Employed in the SME Sector Decreased by Almost 600 Thousand People
Yandex Ranked Among the Fastest Growing Companies in the World
The Russian NtechLab Company will Take Part in Face Recognition Project for 2022 World Cup
Non-cash Tips in Moscow

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Moscow Institute of Steel and Alloys  fountain  Rusisan business  police  technology  Moscow Museum Reserves  Yves Rocher  Russian hockey team  Joe Satriani  St. Petersburg  Russian art  Christmas  Sochi 2014  Sochi  animation  Russian regions  Russian mobile phones  Russian rental market  Baksan  Tula  False Dmitry  Russian tourism  Film Distribution  Russian sport  Arkhangelsk  Hepatitis  Russiansportsmen  Russian Cinema  North Pole  Chelyabinsk Region  Kamchatka  Primorye  airport transfer in Russia  Innocence of Muslims  Mercedes-Benz Fashion Week Russia  Russian Aircrafts  Festivals in Moscow  Vladimir  Moscow Region  Electromobiles  IT  Russian business  Moscow  Safari Park of Gelendzhik  Exhibitions in Moscow  FIFA world cup 2018 tickets  travel to Russia  Central House of Artist  Russian Internet  Rock Music 

Travel Blogs
Top Traveling Sites