Maxim Zmeyev / ReutersThe Russian food import ban announced in early August has left European exporters struggling to find new markets. Russia's ban on imports of food from Europe, part of its response to EU sanctions imposed over the Ukraine crisis, could cost the European Union 5 billion euros ($6.6 billion) a year, according to an internal EU document. Russia, which is the EU's second biggest food market after the United States, decreed the one-year ban on Aug. 6. on European fruits and vegetables, dairy products and meat, accounting for almost half of the bloc's food exports to Russia. Big fruit and vegetable exporters such as Poland and the Netherlands are already feeling the impact of the embargo and the European Commission, the EU executive, is seeking ways to compensate farmers or find new markets for the food. Germany, which has led the EU's decision to impose sanctions on Russia, is also suffering as one of the bloc's main meat and dairy exporters. "T
Explore the latest geopolitical developments