Possible renewal of the Russian embargo until 2017, unless ...

 

 

 

The continuation of the EU economic santions to be decided and announced in late June at a summit. Before that date, the Russian Prime Minister Dimitry Medvedev announced that his government was preparing proposals for the extension of sanctions until the end of 2017. This embargo on food products since August 2014 would have cost 9.3 billion USD to Western exporters, according to data from a Russian study.

 

 

 

However diplomatic channels are exhausted. Jean-Claude Juncker, President of the European Commission, will attend on June 16 an international economic forum in St. Petersburg where Putin will also attend. The principle of a meeting was confirmed, but without details on its terms. This meeting seems the sign, from the European side, of willingness to engage in dialogue for possible consensus.