Main Quotes Calendar Forum
flag

FX.co ★ EU halts aid program to farmers hit by Russia's food import ban

back back next
Forex Humor:::2014-09-19T08:21:00

EU halts aid program to farmers hit by Russia's food import ban

A month after the European Union announced its decision to offer compensation payments to European farmers affected by Russia’s sanctions; it halted its aid plan because of an unexpected surge in fraud claims. Thus, Polish farmers claimed far more compensation than the overall annual exports to Russia from the EU.
Earlier the EU announced it will provide 125 million euro in compensation for farmers in Europe hit by Russia's food import ban.
The new aid scheme will be developed and will be submitted to parliament for approval. According to the initial plan, the compensation program would be applied until the end of November.
On August 7, Russia introduced a food ban on imports from the European Union, the United States, Canada, Australia and Norway. The one-year embargo targets meat, fish, dairy, fruit and vegetables among other products. Moscow plans to replace the banned products with imports from Asia and Latin America.

Share this article:
back back next
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...