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Croatia to suffer greater damage from Russian sanction as time goes: ministers
Last Updated: 2014-08-20 05:48 | Xinhua
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Croatian Agriculture Minister Tihomir Jakovina said on Tuesday that by now no one could tell how much Croatia would get from European Union funds intended as aid for food producers affected by Russian sanctions.

The European Commission Monday announced emergency aid amounting to 125 million Euros (166 million U.S. dollars) for fruit and vegetable producers in the EU affected by Russia's one-year ban on the import of food products from the EU.

Croatia suffered less direct affect from the Russian sanction as it has limited food exports to Russia in the past two years, the minister said.

According to the Croatian Chamber of Economy (HGK), Croatia’s food exported to Russian market amounted to about 1.5 percent of all exported food products, with a value of 15.7 million euros in 2013.

Earlier this month, Croatian Economy Minister Ivan Vrdoljak warned that Russian sanctions could result greater damage in the future for the Croatian companies which were interested in entering the Russian market.

"I believe the damage will be greater in the coming period because the Russian market was one of the potentially new markets for our companies. The damage from not realising those plans will be greater than the damage from sanctions on current food exports to the country," the minister said.

According to HGK data, during the first five months in 2014 the value of Croatian exports to Russia amounted to 92 million euro, 14 percent more than in the same period in 2013. (1 euro = 1.33 U.S. dollars)

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