Russia’s policy of slashing food imports from the West, and bolstering its domestic food industry to make up for the gap in supplies, is paying off during the coronacrisis, according to a report from Reuters.
The situation came about when the European Union and the United States imposed sanctions on Russia following its 2014 invasion and annexation of Crimea. The Russians retaliated with import bans against Western cheese, poultry, vegetables and many other food products. Russian food imports were only $29.8 billion in 2018, a 31% drop from 2013.
Russia covered the difference by bolstering its domestic agricultural and food processing sectors, seeking to improve self-sufficiency in food. As a result, the country was able to weather a surge of panic buying when the coronavirus hit and restock shelves with relatively little difficulty, Reuters says.
Since the Crimea invasion, Russia has become the world’s largest grain exporter. Officials announced last week they would sell 83% of their grain stockpiles into the domestic market to ease pressure on millers and bakers.
