👀 Ones to watch: The MOST undervalued shares to buy right nowSee Undervalued Shares

Russia allows dairy imports from two Serbian firms

Published 23/08/2014, 16:00
Russia allows dairy imports from two Serbian firms

MOSCOW (Reuters) - Russia has lifted a ban on dairy imports from two firms in Serbia, the government's food health service said on Saturday, in an apparent attempt to woo the European Union membership candidate amid Moscow's standoff with the West.

Earlier this month, Russia introduced a one-year embargo on meat, fish, dairy, fruit and vegetables from the United States, the EU, Canada, Australia and Norway, in retaliation for Western economic sanctions over the Ukraine conflict.

Moscow has been searching for new suppliers and has asked several countries, such as Brazil, to increase exports of food to Russia to offset the impact of the sanctions.

The veterinary and phytosanitary service Rosselkhoznadzor said on Saturday that it has included two Serbian firms in the list of the companies which are allowed to sell dairy produce to Russia and its Customs Union with Belarus and Kazakhstan.

It said the firms had previously been banned for unspecified breaches of food regulations on a recent, unspecified date.

The service has lifted the ban just as the EU has asked new candidates, including Serbia, not to exploit the Kremlin's ban on Western food imports.

"Why now? Maybe the Serbs want to use the current situation and get into the (Russian) market as far as it can get," a spokesman for the service told Reuters.

Some Serbian food producers, particularly fruit farmers, have reported a spike in demand from Russia, but capacity is limited. In 2013, just 7.2 percent of Serbia's total exports worth some $65 million, went to Russia.

(Reporting by Vladimir Soldatkin; Editing by Stephen Powell)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.