Russia has announced that they will not be importing fruit, vegetables, meat, fish and dairy products from Norway, US, EU, Australia and Canada.
The restrictions have come as a response to the sanctions placed on Russia by some Western countries due to the situation in Ukraine.
Thursday afternoon fish stocks took a major dive on the Oslo Stock Exchange after this announcement. Russia is the largest and most important importer of Norwegian Seafood. It is mainly herring and mackerel, but also cod and salmon that are popular in this area.
– This is a challenging situation for Norwegian seafood exporters. However, the Norwegian seafood industry has long experience of tackling trade barriers in Russia, and are thus prepared for such situations. Together with the seafood industry and the Ministry of Trade, Industry and Fisheries, the Norwegian Seafood Council therefore works with assessing which marketing initiatives and priorities that can be implemented to mitigate the consequences the import ban may lead to, says CEO Terje E. Martiniussen in the Norwegian Seafood Council.