Yevtushenkov hopes that after the removal of food embargo the companies of joint stock financial Corporation (JFC) will be able to compete with European ones

"Today, agriculture is chosen by many people. And it is absolutely clear that if sanctions are cancelled on the counter sanctions, as it is mentioned by Shuvalov (first Deputy Prime Minister Igor Shuvalov), this would be a serious blow to a number of Russian agricultural producers. Then everything will be determined by the cost price of production. We hope that our production costs are quite low, and we will remain in the layer, which can compete with foreign manufacturers, particularly with Turkish companies, with Armenian companies, with Azerbaijani companies, etc. We'd like to hope so, and we see our cost figures that allow us to hope for it", - he declared on air of TV channel "Russia 24".

It is not excluded that Russia will not extend the counter sanctions (food embargo is extended till December 31, 2017) in case of warming relations with the West, said Shuvalov at the Gaidar forum earlier. The producers should not expect that the state after the cancellation of the counter sanctions will apply some protectionist measures, said the first Deputy Prime Minister.

Russia in August 2014, imposed restrictions on food imports from the EU, the USA, Canada, Australia and Norway - countries that have imposed sanctions against Russia. Under the ban there was meat, sausage, fish and seafood, vegetables, fruit and dairy products. The list includes nuts as well. Later, food embargo was extended till August 6, 2016; the list of countries, in respect of which it was introduced, expanded. At the end of June 2016, Russian President Vladimir Putin signed a decree on extension of counter sanctions since August 6, 2016 till December 31, 2017.

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