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Thu, 07 Aug 2014 10:03:15 +0000
(MOSCOW) -- Russian President Vladimir Putin is fighting back against crippling economic sanctions imposed by the U.S. and European Union by announcing sanctions of his own.
However, his decree could wind up hurting Russians more than the countries he's trying to punish.
Putin said Wednesday Russia would ban or limit agricultural imports from the U.S. and Europe for one year.
Although an exact list of affected foods is supposed to be announced Thursday, it's expected that all agricultural products imported from the U.S. will be stopped in addition to fruits and vegetables from Europe.
According to Putin, the grounds for the ban have to do with "national interests."
It's all in response to the U.S. and its allies taking action against Moscow's interference in Ukraine's internal affairs, first by luring Crimea away and then supporting insurgents in eastern Ukraine.
The U.S. first slapped sanctions on Russia following its annexation of Crimea last March that affected 20 Russian officials and members of Putin’s inner circle as well as a Russian bank. Then late last month, President Obama announced an additional round of sanctions to hit key sectors of Russia's economy, including energy, arms and finance.
These measures have taken a toll on Russia's economy while Putin's new import ban will certainly restrict the food choices of his country's consumers.
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