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Together with a declining ruble, Russia’s export competitiveness has risen dramatically (Photo: Alex F)

Uncertainties multiply in EU's Russia policy

In July 2014, following Russia’s annexation of Crimea and support for rebels in eastern Ukraine, the EU imposed substantial economic sanctions, limiting access to finance, banning exports of advanced technology to Russia’s energy sector, and travel bans on senior Russian officials.

Russia, for its part, retaliated with a ban on the importation of food products, including most meats, fish, vegetables, fruits, and dairy products, particularly hurting nearby EU countries such as Finland a...

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