The US has extended the sanction against Russia by a year. The sanctions will run until March 2017. The Russian coin went up a little last week in the wake of the slightly rising oil price. For the first time this year a dollar cost less than 72 rubles. The Russian inspection destroyed 3.5 tonnes of fruit and vegetables and posted a video of it on the website. A large amount was also intercepted at the Azerbaijan border. Bulgaria calculated that the sector has lost 150 million Euro due to the boycott.
US extends sanction
The United States have extended the sanctions against Russia to March 2017. The sanctions were imposed in response to Russia's annexation of Crimea. The Kremlin had a disappointed response to the extensions of the sanctions. Russia points out that the relationship with the United States in under pressure due to the 'unwillingness' of Kiev to carry out the Minsk agreement. The Kremlin also said to "have the right to respond with measures that we believe are important in Russia".
Ruble rises thanks to higher oil price
The ruble rose slightly in value compared to the dollar last week. The exchange rate decreased by 1.6 percent to under 72 rubles for a dollar. This was the first time that the exchange rate was under 72 rubles since the end of December 2015. The oil price rose a little and ended at 38 dollars per barrel last week.
Bulgaria lost 150 million Euro due to boycott
The Bulgarian sector has lost 300 million lev (153.11 million Euro) since the boycott in August 2014. The main cause of the loss is the decreased sales prices and a loss of sales, the Bulgarian government reports. The country wants to find a solution to the problems as soon as possible.
Possible boycott of Belarus re-export
The Russian phytosanitary service is considering a boycott of fruit and vegetables from Kenya, India and Liberia that comes in through Belarus. The Kremlin isn't ruling out that the documents have been tampered with and that illegal products are being imported under these certificates. The authorities of the three countries have been asked for clarification.
