RUSSIA RETALIATES SANCTIONS: BANS FOOD FROM U.S AND EUROPEAN UNION

In retaliation to the recent U.S and European Sanction on Russia, the Russian president Vladimir Putin has banned all imports of food and agricultural supplies from the countries that imposed sanction on them. 

The Decree which was signed on Wednesday was partly revealed today by the Russian Prime Minister Dmitry Medvedev.

Dmitry said Russia has imposed ban on supplies of beef, pork, fruit, vegetables, poultry, fish, cheeses and milk from the European Union, the United States, Australia, Canada and Norway.

The Retaliatory move comes after a week the U.S and the European Union moved to impose economic Sanctions on Russia for supporting, Pro-Russian Separatist in Ukraine.

The list of the specific goods to be ban are yet to worked out. And goods from the EU represent 16% of Russia's Import. CONTINUE READING.....

According to Report on CNN, A senior U.S. administration official told CNN a ban in imports will only deepen Russia's international isolation and work against the country's own economic interest.
"Russia's Central Bank yesterday pointed out that bans on imported food will push up Russia's already high inflation rate, eroding the purchasing power of Russian citizens," the official said.

The United States insists that sanctions against Russian businesses and individuals are having and effect and already weakened Russia's economy.

"Sanctions are working as intended in putting enormous pressure and strain on the Russian economy. ... The economy has ground to halt," U.S. President Barack Obama told reporters on Wednesday.
If Putin doesn't push to resolve problems in eastern Ukraine through diplomacy and peaceful means, Obama said, "he's going to be hurting his economy and his own people over the long term."