Norway

“I fully understand the reasons that prompted you to take the decision to impose an embargo on EU agricultural products. However, on behalf of the Greek people, who are going through a period of extreme hardship, I appeal to your humane feelings to think again over your decision toward the Greek farmers.”

Turkey’s lira slipped to its weakest since March 31 on Aug. 8 as investors fled to safe havens unnerved by the prospect of U.S. air strikes in neighboring Iraq, two days ahead of Turkey’s first direct presidential polls. This was hours before the U.S. hit Iraq targets on Aug. 8.

MOSCOW/ISTANBUL – Turkey and Latin American countries such as Brazil look likely to emerge as key winners from Russia’s decision to ban most European Union and US food imports in retaliation for Western sanctions over Moscow’s role in Ukraine.

The Russian ban on food imports from the EU would hit Bulgaria’s economy, experts agree. However, they differ on the extent of the potential damage.

On Thursday, Russia banned food imports from the EU, US, Australia, Canada and Norway in response to Western sanctions imposed over Moscow’s support for Ukrainian rebels.

Plamen Grozdanov from the "Made in Bulgaria Union" has predicted huge losses for many Bulgarian companies due to Russia's 1-year ban on food imports.

Greece could lose almost 180 million euros if Russia goes ahead with a one-year ban it announced on Thursday on food imports from the European Union but Athens was hopeful that a number of local products would be exempted from the embargo.

Finance Minister Evangelos Venizelos on Thursday said Greece was trying to contain the damage from Russia's embargo on food imports from the European Union.

“We are in contact [with Russia] in order to minimize, and if possible eliminate, the repercussions [from the embargo],” Venizelos told journalists.

The European Union is to refer Moscow's decision to restrict imports of food from the bloc to the World Trade Organization (WTO), a diplomatic source reveals.

Russia will ban fruit, vegetables, meat, fish, milk and dairy imports from the United States, the European Union, Australia, Canada and Norway, Prime Minister Dmitry Medvedev told a government meeting on Aug. 7.

In a decision that is expected to affect Greek exports, Russian Prime Minister Dmitry Medvedev said Thursday that Moscow will ban fruit, vegetables, meat, fish, milk and dairy imports from the European Union, the United States, Australia, Canada and Norway.