It’s one way to start the New Year.
Today, January 1, Russia has put into law the ban of Ukrainian food, as a response to latter’s complicity in enforcing Western sanctions. In what seems to be an ever growing list of countries, Russia is determined to continue this banning of imported food. So far, as I’ve noted before, it seemed to have hurt more than helped.
However, projections predict this could cost Ukraine – a weakened country embattled in corruption and civil war – a substantial amount of money. Ukrainian Prime Minister Anrsenly Yatsenyuk believes that losses could be around $600 million, for 2016 alone.
Keep an eye out this year for how accurate those predictions are.