Baltic States – CIS, EU – Baltic States, Foodstuff, Legislation, Markets and Companies

The announcement followed last week's talks concerning aid for fruit and vegetable growers.

"Price signals on the European dairy market show that the Russian ban is starting to hit this sector," said EU Agriculture Commissioner Dacian Ciolos.

EU dairy exports to Russia were worth EUR 2.3 billion in 2013, with cheese accounting for almost half of that.

According to the proposal, the Commission will help cover the costs of storing butter, skimmed milk powder and certain types of cheese for up to seven months.

The commission says it is also prepared to buy up stocks of butter, skimmed milk and cheese if prices drop below a certain level.

Finland and the Baltic states are expected to benefit most from the emergency measures, according to EU sources.

The proposal must be formally approved by the EU member states.

The EU agriculture ministers are expected to meet in Brussels on September 5 to address the consequences of Russia's import ban.

As reported, at the beginning of August, Russia introduced an embargo on the majority of food products that come from the EU, the United States and other Western countries that imposed sanctions against Moscow.