Updated 12:13 p.m. Moscow Time
MOSCOW, October 2 (RIA Novosti) – Russian Finance Minister Anton Siluanov on Thursday said his ministry has noted a sharp increase on food prices because of import limitations imposed in response to western sanctions.
"Prices on food have sharply increased because of [import] limitations that we have imposed," Siluanov said during the Russia Calling investment forum in Moscow.
In response to another round of Western sanctions imposed against Russia over its alleged negative role in the Ukrainian crisis, Moscow introduced a one-year food embargo against the United States, the European Union, Norway, Australia, and Canada, blocking an estimated $9 billion worth of agricultural exports from these countries.
Moscow has repeatedly stressed that it is not involved in the Ukrainian crisis, referring to the language of sanctions as "counterproductive," and saying that such measures "threaten international peace and stability."