Czech beer producers reprieved from Russian retaliatory sanctions

Czech beer producers appeared to face a reprieve from feared retaliatory sanctions from Russia. On Thursday, PM Dmitry Medvedev followed through on announced sanctions by President Vladimir Putin the previous day, listing a specific ban on fruits, vegetables, milk, dairy products, meat and fish imports from the EU as well as US, Norway, Canada and Australia. The ban, in reaction to sanctions imposed by the EU and US over Russian alleged intervention in eastern Ukraine, will last for one year. The head of the Czech Beer and Malt Association had stated a Russian embargo on Czech beer would immediately incur losses of hundreds of millions of crowns, and could lead to job cuts as well. The Czech Republic annually exports some 500 million crowns worth of beer to Russia.