But while Russians rich enough to savor fine European food at home may lament, at least in private, the gradual disappearance of such fare from shelves after Thursday’s announcement, Europe’s farmers and food producers, at least initially, suggested the effect of the ban was likely to be limited.
The president of the European Central Bank, Mario Draghi, indicated that the greatest impact to Europe might be the atmosphere of uncertainty that the tensions over Ukraine have generated. “Our risks to the recovery were on the downside to begin with, and certainly one of these risks will be the geopolitical developments,” he said at a news conference in Berlin on Thursday. “The recovery remains weak, fragile and uneven.”
After the United States, Russia is the biggest market for European agricultural exports, worth about 11.8 billion euros last year, or roughly $15.7 billion, according to Eurostat, the European Union’s statistics agency. That is about 10 percent of European agricultural trade; the vast majority of that commerce stays within the 28-nation bloc.
But while Russians rich enough to savor fine European food at home may lament, at least in private, the gradual disappearance of such fare from shelves after Thursday’s announcement, Europe’s farmers and food producers, at least initially, suggested the effect of the ban was likely to be limited.
The president of the European Central Bank, Mario Draghi, indicated that the greatest impact to Europe might be the atmosphere of uncertainty that the tensions over Ukraine have generated. “Our risks to the recovery were on the downside to begin with, and certainly one of these risks will be the geopolitical developments,” he said at a news conference in Berlin on Thursday. “The recovery remains weak, fragile and uneven.”
After the United States, Russia is the biggest market for European agricultural exports, worth about 11.8 billion euros last year, or roughly $15.7 billion, according to Eurostat, the European Union’s statistics agency. That is about 10 percent of European agricultural trade; the vast majority of that commerce stays within the 28-nation bloc.
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