Russian ban to cost Dutch economy €300m

Russia's ban on import of agricultural goods from the EU will have an impact on 5,000 jobs in the Netherlands and will cost the country's economy 300 millions euros, the Dutch national statistics office CBS reported Tuesday.
The Russian ban will not only affect the agriculture and the food industry but also supplying and supporting industries which are involved in this export.
A grower sells his tomatoes to wholesalers who in turn sells it to Russia. An aircraft brings them to Russia. The grower also makes use of an accountancy office. Therefore all these industries involved also earn money by exporting to Russia.
In 2013, Netherlands was a major supplier of goods by neighboring countries boycotted by Russia. For example, Netherlands supplied Russia half of the tomatoes imported by Poland, Estonia, Latvia and Lithuania together. On Monday, the EU announced that fruit and vegetable growers in the EU will benefit from a 125 million euro compensation package following the imposition of the Russian import ban.