WARSAW, August 5 (RIA Novosti) – Warsaw may lose “at least $700 million” in 2014 if Russia expands the list of food products banned from being imported into the country, Poland’s Deputy Prime Minister and Economy Minister Janusz Piechocinski told Polska Agencja Prasowa Tuesday.
Polish exports to Russia will fall by 20 percent and Polish exports to Ukraine will decrease by 40 percent this year, according to Piechocinski.
The Ukrainian crisis would shave 0.5 to 0.6 percentage points off Poland's economic growth this year, the minister estimated.
“It’s obvious that we will have to deal with a long-term trade and political war,” Piechocinski said.
Russia’s agriculture watchdog Rosselkhoznadzor imposed a ban on all fruits and vegetables imported from Poland from August 1, citing numerous licensing breaches and the detection of quarantined items.
The Polish Agriculture Ministry said the ban was a response by Moscow to the increased EU sanctions against Russia. Moscow denied this accusation.
Russia is one of Poland’s key export markets. In 2013, Poland exported over 840,000 tons of fruits and vegetables to Russia. According to the Polish Agriculture Ministry, the country may lose more than $670 million due to the embargo.
