Iran's President Raisi warns Israel against any missteps
6 hours ago
Russia has the most barriers to trade for European exporters, according to a report from the European Commission (EC).
The EC report, which is based on information from European firms, identifies 372 barriers to trade currently in use, with the largest stock of barriers (33) imposed by Russia. Brazil, China and India each had stocks of 23 barriers against European firms, reports Bank of Finland Institute for Economies in Transition (BOFIT).
Russia accounted for six of the 36 new barriers introduced in 2016. These measures included restrictions on imports and regulations to favour domestic firms in procurements by state-owned enterprises, new certification requirements for cement and pharmaceuticals, as well as restrictions on transit. Russia also announced plans for introducing requirements for psychological and educational safety of toys that would be unique in international practice.
Russia is in a sanctions war with the West, which first imposed sanctions following Russia’s annexation of the Crimea in Ukraine in 2014. The Kremlin responded with a ban on European agricultural produce. Since then the US recently imposed fresh sanctions on Russia as punishment for interfering in the US elections last year. And Europe also expanded its sanctions regime this month after a Russian subsidiary belonging to Germany’s Siemens was caught shipping power turbines to Crimea.
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