Restriction of Agricultural Exports to the Russian Federation. Potential Consequences for Austria

The Russian Federation imposed an import ban of a number of agricultural products from the EU and other countries on 7 August 2014. The list contains 30 products, some of them processed food items. The relevant export volume of Austria to Russia is around 100 million €. The study analyses the direct and indirect consequences of the trade restrictions for agriculture and food processing industries in Austria. A destinction is made between short-term and longer-term effects. Measures for mitigating economic losses are presented and challenges are discussed. Austria is in the focus of the analysis. An assessment of the consequences in 2014 shows that the volume of exports from Austria to Russia declined by approximately 50 million € compared to 2013.