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A one-year ban has been imposed on certain agricultural produce, foods and raw materials from countries that have sanctioned Russia. An order on economic measures to protect the country's security has been signed by President Putin. The decree “on the use of specific economic measures” has been signed in response to sanctions imposed on Russia by a number of states over the Ukrainian crisis, the Kremlin said on its website.
While the law comes into force immediately, the government has been tasked to come up with a concrete list of imports to be banned. The decree orders the Cabinet to take measures to provide a balance on product markets and prevent rapid price growth. The government has also to join efforts with manufacturers, businesses and retail store chains to increase the Russian goods supply.
The move is unlikely to have a big impact on the near-term financial performance of companies like Deere & Co and Agco Corp because Russia accounts for a small part of their sales.
Russia is not a big importer of U.S.-made tractors, harvesters and other ag implements, according to data from the U.S. Department of Commerce's International Trade Administration.
In 2013, Russian farmers purchased just $130 million of American-made ag implements, accounting for less than 2 percent of U.S. exports of farm equipment.
originally posted by: the owlbear
a reply to: eisegesis
What about the farm equipment made in Germany and the EU?
And the other agricultural products...I.e. food, grain, fertilizer, etc?
Russians might have to wait in line for beets and potatoes again, but Putin wins this hand.
All agricultural goods produced in the US and imported into Russia will be halted for one year, the assistant to the head of Rosselkhoznadzor, Aleksey Alekseyenko, told RIA Novosti.
Russia's move to limit agricultural trade is seen as a sign the conflict with Washington is heating up. Russia imported about $1.3 billion in U.S. food and agricultural products last year, or about 11 percent of all U.S. exports to the country, according to U.S. Census data.
Russia is the second largest importer of U.S. broiler meat behind Mexico, buying 276,100 tonnes last year, or 8 percent of U.S. exports, according to the U.S. Department of Agriculture. Russia's purchases from January through May 2014 represented 7 percent of U.S. exports.
originally posted by: SaturnFX
Yeah..erm...so let me get this straight...
Putin has decided to ultimately starve his people in order to mildly annoy some farmers outside of Russia.
And some dip-hi-s on ats think Putin is super duper clever for this move...
Interesting...but, it is politics on ATS..it never really did make a lot of sense