The EU Wants from Russia 1.4 Billion Euros a Year due to the Ban to Import Pork

Politics | January 7, 2018, Sunday // 11:31| Views: | Comments: 0
Bulgaria: The EU Wants from Russia 1.4 Billion Euros a Year due to the Ban to Import Pork twitter.com

The European Union intends to demand from Russia an annual EUR 1.39 billion due to restrictions on imports of pig meat, RIA Novosti reports, quoted by BGNES.

The compensation demanded by Brussels is based on the total value of EU pork exports to Russia in 2013. The amount of the fine is planned to increase each year by 15%. The World Trade Organization has sent a request to the arbitration tribunal for the EU's intention to require Russia every year 1.39 billion euros due to restrictions on imports of pork, Ria Novosti said.

According to sources in Politico, the arbitration process will decide whether the claim for financial compensation from Russia is fair. Then, in a positive decision, the court will rule on the possibility of the measure being applied to Russia. In 2016, the WTO ruled that Russia had introduced an "illegal" ban on imports of pork from the EU and that this step has severely hit farmers in Denmark, Germany and the Netherlands. Politiko notes that sanctions have allowed Russia to increase its production of pork after the competition of foreign importers in the market has disappeared.

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Tags: EU, Russia, pork, import, court
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