UK FOOD SECTOR MONITORING IMPACT ON SECTOR FROM SANCTIONS AGAINST RUSSIA

UK food sector monitoring impact on sector from sanctions against Russia. The UK’s Food and Drink Federation is closely monitoring the potential impact for business following sanctions imposed on Russia

The FDF’s Chief Executive, Karen Betts, said:

“We’re urgently working with companies in our sector to understand the impact of the sanctions imposed on Russia. Businesses want to do the right thing in ensuring they abide by the measures taken by governments in response to Russian aggression.

“We anticipate that some food and drink companies will experience supply chain disruption as a result of the war in Ukraine, given that commodities, such as grain and sunflower oil, as well as other inputs, including packaging, could be affected. We will work through these as efficiently as possible, but – with manufacturers also exposed to further rises in energy prices – this could well add to current inflation.”

The Russia (Sanctions) (EU Exit) Regulations 2019 came fully into force on 31 December 2020. They are intended to ensure that certain sanctions relating to Russia continue to operate effectively.

As the situation with Russia evolves, the following government support has been made available.

The Export Support Service (ESS) to support business has extended their advice to cover trading with Ukraine or Russia. If you have a question, you can use the dedicated online service or call 0300 303 8955.

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