EU demands 1.4 billion euros from Russia | TOP-NEWS

EU demands 1.4 billion euros from Russia

The World Trade Organization sent the European Union’s demand to the arbitration court with the intention to collect annual financial compensation from Russia for the ban on pork supply.

The European Union plans to introduce an annual recovery of money from Russia because of restrictions on the supply of meat products, namely pork. The estimated amount of foreclosure could be 1.39 billion euros.

The World Trade Organization has already submitted to the arbitration court the requirement of Brussels for further consideration. According to one of the representatives of the European Union, the court will decide whether this requirement is fair or not. If the court makes a positive decision, the court will determine what measures should be taken against the Russian Federation.

According to the REPRESENTATIVE of the EU, Russia and the European Union are engaged in a “battle of mirror sanctions.” The amount of compensation demanded by Brussels is formed from the total value of annual pork exports from EU countries to Russia back in 2013, before the emergence and development of the crisis in Ukraine.

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EU representatives expect to increase the amount of foreclosure on an annual basis by 15%. It is also reported that the entire process of recovering financial compensation has been spread by participation in its promotion of the WTO. Brussels’ proposed actions demonstrate that the EU is “beginning to actively challenge the legality of politically motivated food sanctions.”

Recall that back in 2016, the World Trade Organization found that Russia had established an “unlawful” ban on the import of pork from the European Union. The retaliatory sanctions, according to the organization itself, have had a significant negative impact on the farms of Germany, Denmark, and the Netherlands.

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