EU pledges $168mln to assist producers hit by Russia's ban

EU pledges $168mln to assist producers hit by Russia's ban

PanARMENIAN.Net - The European Commission is pledging 125 million euros ($168 million) to assist fruit and vegetable producers hit by Russia's ban on food imports from the 28-nation bloc.

According to the Associated Press, it said Monday, Aug 18, the funds will help those selling products like tomatoes, carrots, peppers, apples and pears.

Russia's ban on EU food imports this month coincided with the harvesting season and led to a supply glut that is weighing on prices and causing losses for producers. The Commission aims to compensate producers who decide to not harvest some of their goods or give products away for free. Russia is the main export market for many EU fruits and vegetables.

Moscow banned imports in retaliation for EU and U.S. sanctions against Russia introduced over what the West sees as Russia's destabilization of Ukraine.

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“The European Union expects that this substantial assistance will lead to bold reforms over the next years,” Hristea said.
Over the 9 months of 2014, Ameribank's assets amounted to AMD 334 billion, taking it to the top of Armenia's banking system.
Sergo Karapetyan stated that exports of Armenian fruits (except fort apricots) and vegetables to Russia this year have doubled.
Among CIS countries, Azerbaijan was placed 60th, Russia 91st, Moldova 75th, Ukraine 88th, Kyrgyzstan 101st place.
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