Bulgaria's Exports to Suffer Minor Losses from Russian Sanctions

Business | August 8, 2014, Friday // 15:01
Bulgaria: Bulgaria's Exports to Suffer Minor Losses from Russian Sanctions Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria. Photo by BGNES.

Bulgaria's exports to Russia last year amounted to some BGN 1B, Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria, told Nova TV.

So far, the list of imported products that Moscow has banned will affect no more than 2% of Bulgarian exports - mainly of raw fruits and dairy products.

According to Dimitrov, Bulgaria's exports will suffer losses no greater than BGN 18-20M.

Data of the Ministry of Economy and Energy shows that almost one third of Bulgaria's exports to Russia are of pharmaceutical drugs, Dnes.bg informs.

According to Ognyan Donev, President of the Confederation of Employers and Industrialists in Bulgaria, it is unlikely that President Putin would impose an embargo on drugs imports.

On Thursday, Russia banned food imports from the EU, US, Australia, Canada and Norway in response to Western sanctions imposed over Moscow’s support for Ukrainian rebels.

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Tags: Confederation of Employers and Industrialists in Bulgaria, imports, Confederation of Independent Trade Unions in Bulgaria, Russia, banned, exports
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