The European Commission Thursday said it held a "very useful first exchange of views " with EU Member State experts today on the potential impact of the Russian sanctions announced last week on imports of certain agricultural products from Europe. The EU's executive body presented a preliminary analysis of the main sectors included by the Russian measures - fruit, vegetables, dairy and meat products. The meeting agreed that the situation is the most urgent for certain perishable vegetables hit by the ban, where the season has already begun and a key export market has suddenly disappeared with no immediate prospect of an obvious alternative, said an European Commission statement. Based on the new information received today from the EU Member States, the Commission announced that it would come forward with appropriate new measures at the beginning of next week. EU agricultural and meat exports to Russia are estimated at around 11 billion euro yearly.
Russia announced a ban on food imports from the EU and the US in retaliation for the sanctions imposed by the West on Russia's financial, trade and energy sectors due to the crisis in Ukraine.