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EU gives additional 30 million euro to support agricultural producers over Russian embargo

September 03, 2014, 17:28 UTC+3 BRUSSELS

“The European Commission is rather optimistic about the situation,” EU Commissioner for Agriculture and Rural Development says

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BRUSSELS, September 03. /ITAR-TASS/. The European Union has provided an additional 30 million euro for the support of EU agricultural producers in connection with Russia’s food embargo, sources in the European Commission said on Wednesday.

“The European Commission has confirmed its intention to allocate 30 million euro for the EU agricultural market to mitigate the effects of Russia’s food embargo,” the commission said.

Additional funds are provided for expanding the financial base of the programmes of the EU Common Agricultural Policy. “These programs are the EU agricultural policy tools for overcoming the market difficulties as a result of the Russian embargo. They will help producers find new trade partners inside and outside the European Union,” EU Commissioner for Agriculture and Rural Development Dacian Ciolos said.

According to him, 30 million euro is only half of the additional programme financing within the Common Agricultural Policy. These programs are funded jointly by the European Commission and private sector, that is, the European Commission will provide 30 million euro and additional 30 million euro - by the private sector on an annual basis,” Ciolos said.

“The European Commission is rather optimistic about the situation. We have quality products, and if Russia does not want to buy them, we’ll find other buyers,” he said.

The European Commission on August 11 announced the allocation of 32.7 million euro for the support of EU producers of peaches and nectarines, and on August 25 - the allocation of 125 million euro for producers of fruit and vegetables.

Nevertheless, experts say, the potential damage to Europe’s agricultural exports from Russian countermeasures can exceed seven billion euro.

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