Thursday, July 31, 2014

US/EU/Russia: Update--"Payback" Impacts on Greek Fruit, US Poultry in Millions of Dollars

According to Reuters, Russia may impose new food import restrictions next week, reports said on Thursday (July 31), in what could be responses to new Western sanctions over Moscow's support of rebels in Ukraine.

The country has already announced several food import bans following Western sanctions.

Russia's Veterinary and Phytosanitary Surveillance Service (VPSS) may restrict fruit imports from Greece next week, RIA news agency reported, citing the watchdog agency.

VPSS may also suspend US poultry imports next week, Interfax news agency reported.  

COMMENT: It appears that Greece drew the "short-straw" from the EU's point of view while the negative impact on US poultry was $71 million.

Greece supplied fruit worth $611 million to Russia in 2013, RIA added, citing customs data. Russia imported US chicken meat worth $71 million in January through April, Interfax said. 

VPSS said it had found signs of certain quarantine-linked pests such as moths in Greek nectarines, while US poultry imports may be suspended due to signs of certain antibiotics use, according to reports.

VPSS could not be reached for immediate comment.