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The Impact Of Russian Ban On The European Union

Author

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  • Andreea-Emanuela Drăgoi

Abstract

Starting with August 2014, the Russian Federation introduced (until December 2018) import restrictions on a range of EU agricultural products notably meat, dairy products, fruit and vegetables. This paper analyses the economic impact of Russian ban from a double perspective: the negative effects on EU agricultural sector and the trade effects. In this respect, we must emphasize that the observed decline in trade volumes between the EU and Russia is closely connected to losses of EU agri-food exports to Russia and has economical-wide negative impacts. This paper does not assess the political costs or effectiveness of the sanctions, but merely analyses the economic costs for EU. Finally, considering the fact that the ban is most likely to continue, if the geo-political tensions are maintained, our paper shows that this will generate additional costs for the European economy (by increasing funding through CAP in order to mitigate the negative effects for EU farmers).

Suggested Citation

  • Andreea-Emanuela Drăgoi, 2018. "The Impact Of Russian Ban On The European Union," Euroinfo, Institute for World Economy, Romanian Academy, vol. 2(6), pages 15-22, June.
    • Handle: RePEc:iem:eurinf:v:2:y:2018:i:6:p:15-22
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/651/732
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    More about this item

    Keywords

    Russian ban; sanctions; agri-food exports; CAP;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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