Russia has done it self a favour and will most prob pay less for imports from other countries rather than the US, EU
This could cost the EU $16 bn in lost trade
The EU are allready crying about this
The European Union is likely to consider filing appeals with the World Trade Organization (WTO) after Russia announced import bans on products from the EU, Lithuania’s Foreign Minister Linas Linkevicius said Thursday.
Russia’s import ban means big business for Latin America
Russia’s 1-year ban on food products from the EU, US, Canada, and Norway will force Russia to increase food imports from Latin America, specifically Ecuador, Brazil, Chile, and Argentina.
Russia will ban meat, dairy, fruit, and vegetable imports from countries that have imposed sanctions on Russia over the Ukraine conflict, which opens the door to Russia’s partners on the other side of the world.
Russia will have to fill an 8 percent gap in its total agricultural imports that it sources from the EU, USA, Canada, Australia, and Norway. The Netherlands, Germany, and Poland are currently Russia’s biggest food suppliers in the EU.
http://rt.com/business/178664-latin-...ts-russia-ban/
I think Russia has the upper hand for now and these sanctions put in place by the US and EU will hurt the UK more than Russia Putin is laughing at us right now