Putin left Western food producers without the Russian market for two years
Vladimir Putin has issued a new decree concerning Western companies.
For the first time, the President extended the embargo on agricultural products from Western countries for two years.
The corresponding document appeared on Wednesday, September 18, on the website for the official publication of legal acts.
The prohibitive measure introduced ten years ago has been extended again. But this time for 48 months.
The Russian market will be closed to Western food producers from January 1, 2025 to December 31, 2026.
This measure was introduced back in 2014. Since then, the president has been extending it. But before that, all decrees extended this decision for no more than 12 months.
Despite the political confrontation, economic relations between Moscow and Western countries have not been completely severed.
For example, since the beginning of 2024, Russia has received $264.9 million from these countries for titanium.
Unfriendly countries accounted for 11.4% of total imports by domestic producers.
Titanium is an important resource that the West has to purchase from Russia, experts note.
