Russia could exempt Hungarian companies from food ban

Russia could exempt approximately fifteen Hungarian firms from its embargo on food imports from the European Union, a senior Russian official told Interfax news agency yesterday, according to Hungarian news agency MTI.

Head of Russiaʼs federal veterinary service Sergei Dankvert said the ban could be lifted for the Hungarian companies as well as a handful of Greek and Cypriot producers, about twenty companies in all, Interfax added.

Russia introduced the ban on food imports from the EU last August in response to Western sanctions imposed on Moscow regarding its role in the Ukraine crisis. As a result, several food producers were denied access to the large Russian market.

The Hungarian economy has reported losses of nearly €300,000 a day due to the embargo, according to Slovak business daily Hospodarske Noviny which interviewed Hungaryʼs minister for foreign affairs and trade last October.

Figures

VC Investments in CEE at EUR 940 mln in Q2 2024 – Vestbee

World

American Hungarian Diaspora Org Sets Sights on Young People

Energy Trade

Ganz’s Giant Transformer to Connect Hungarian and Eastern European Power Grids

Budapest

Karácsony: Budapest Ready for Flood Wave

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.