EU agreed new measures to help food producers hit by Russian sanctions

18 September 2014 11:53
(QHA) -

EU officials have agreed new measures to help food producers hit by a Russian ban on agricultural imports and will publish them over the coming days, the European Commission said.

Moscow in August imposed a one-year embargo on meat, fish, dairy, fruit and vegetables from the United States, the European Union, Canada, Australia and Norway in retaliation for Western sanctions over Moscow's role in the Ukraine crisis.

EU farm exports to Russia are worth some 11 billion euros ($14.3 billion) annually, or roughly 10 percent of the bloc's agricultural sales. The Russian embargo has affected EU products worth 5 billion euros, said the Commission, the EU executive, Reuters reports.

Following debate with representatives of the 28 member states on Tuesday, the Commission is finalizing the text and budget for a new compensation scheme and expects to make an announcement in the coming days, spokesman Roger Waite said.

"Official publication is expected early next week, with new rules entering into force straight away," he said.

Waite said he could not yet give a figure for the budget.