Russia sanctions hurt EU farmers, may help US farmers

Global Business

American wheat farmers may benefit from the ban on food shipments from Russia by the United States and European Union. E.U. farmers, however, may see economic pain as a result of the Ukraine crisis.

Wheat prices skyrocketed when the turmoil in Ukraine began to intensify. Many wheat farmers in the U.S. see the crisis as a potential opportunity — Russia can produce its own wheat, but wheat-consuming countries could turn to the U.S. if tensions with Russia continue.

CCTV America’s Hendrik Sybrandy reports.

US wheat farmers may benefit from Russia sanctions

US wheat farmers may benefit from Russia sanctions

American wheat farmers may benefit from the ban on food shipments from Russia by the United States and European Union.

For many European farmers, their biggest market is Russia. With the sanctions imposed on Russia by the E.U., farmers there could see major losses.

MORE UKRAINE COVERAGE ON CCTV AMERICA.

Industry groups warn that more than 50,000 jobs are at stake in Europe. All E.U. countries are already reporting significant economic damage.

The E.U. expects losses of up to billions of euros resulting from Russia’s ban.

CCTV’s Jack Barton reports.

EU farmers see economic pain from Russia sanctions

EU farmers see economic pain from Russia sanctions

For many European farmers, their biggest market is Russia. With the sanctions imposed on Russia by the EU, farmers there could see major losses. CCTV's Jack Barton reports.

For more on the economic effects of sanctions on Russia, Kim Iskyan joined Biz Asia America. He is an emerging markets analyst for Stansberry Research.

Will more sanctions on Russia only worsen the economy?

Will more sanctions on Russia only worsen the economy?

For more on the economic effects of sanctions on Russia, Kim Iskyan joined Biz Asia America. He is an emerging markets analyst for Stansberry Research.

  • Thanks Always Returns

    Perestroika

    “Who are you going to call for; what do you have to say?” ~ R.E.M., “Good Advices” from the album Fables of the Reconstruction (1985)

    It’s really for the best you knowThose apples weren’t so yummyWe’ll find our way again to growOur own to feed our tummyAnd if they cost a few cents moreThat’s hardly cause to panicThey’ll be clean like they were beforeNo pesticides – organicSome influences come acrossThat don’t fit and for certainNo part of that can be a lossThis is no iron curtainWhich won’t be coming back at allThe border won’t be shuttingOur local businesses this fallWill thrive with no job-cuttingWith all that said he bids adieuNo more are we connectedWe know his words as he knows tooMay have been interceptedNo way have we to more than guessJust what he’s really thinkingNo way he’d safely dare confessReform leaves his heart sinking ~ Thanks Always Returns