OREANDA-NEWSExperts estimated the annual loss of consumers from the introduction of a food embargo by Russia at 445 billion rubles. Such an assessment is presented in a joint study of analysts.

“For all the considered counter-sanctioning product groups, with the exception of poultry, pork and tomatoes, consumers lost 520 billion rubles a year (in 2013 prices). In three product groups (poultry, pork, tomatoes), in which prices fell and a significant increase in consumption, consumer gain is equivalent to 75 billion rubles per year. Thus, the total negative result from counter-sanctions for the consumer amounted to 445 billion rubles per year, or about 3,000 rubles per person per year", the document says.

In July 2014, the European Union and the United States imposed sanctions against Russia in connection with the events in Ukraine and repeatedly expanded and extended them. On August 7, 2014, Russia introduced a package of retaliatory measures against the European Union, the USA, Australia, Canada, and Norway. The so-called counter-sanctions represented a one-year ban on imports of fruit, vegetables, dairy and meat products from these countries into the Russian Federation.