President Sauli Niinistö. Photo Lehtikuva.
Prime Minister Alexander Stubb on Thursday said the impact of Russian sanctions on Finnish economy and business would be examined carefully and the government would continue with diplomatic efforts to resolve the crisis.
“Finland will continue with its diplomatic efforts both with its EU partners and through bilateral means to resolve the crisis,” said Stubb, according to an official press release issued on Thursday.
The premier said the impact of the sanctions on the Finnish economy would be assessed before the budget session and he would make an announcement to parliament at the earliest convenient time.
Prime Minister, Alexander Stubb. Photo Lehtikuva.
“It was to be expected that Russia would respond to the sanctions issued by the EU. The impact of the Russian sanctions on the Finnish economy and Finnish businesses must be carefully examined before the government budget session,” said Stubb, adding, “I will make a prime minister’s announcement to parliament as soon as it convenes.”
Meanwhile, President Sauli Niinistö on Thursday emphasised that Finland needs to stand together with the rest of the European Union in adhering to the sanctions imposed on Russia, reported news agency STT.
The president also dismissed the possibility of asking Russia for concessions to the Finnish side in regard to Russian counter sanctions.
The president pointed out that Finland as a member of the EU had been involved in making the decision of imposing sanctions against Russia by exercising its own free will.
Minister for European Affairs and Foreign Trade Lenita Toivakka. Photo Lehtikuva.
Niinistö also does not believe that the counter measures by Russia will be reflected in the day-to-day life of Finnish consumers.
The president said the industries are prepared to do things differently to compensate for the losses brought by the sanctions.
He also revealed that the EU may have set aside funding to be used in crisis situations but he does not know whether it could be used to support the country in this situation.
Diplomatic solution is the best way out of the crisis, reiterated the president, describing the current situation as already knocking on the door of a cold war.
The products targeted by the Russian import ban represent approximately 5 per cent of Finland’s exports to Russia and approximately 0.5 per cent of its total exports, according to the government press release.
Minister of Agriculture and Forestry Petteri Orpo. Photo Lehtikuva.
“Russia is our food industry’s main export market. Dairy products account for about 87 per cent of our exports to Russia as regards the products on the list of banned imports,” said Minister of Agriculture and Forestry Petteri Orpo, adding that they are scheduled to hold a meeting at the ministry to discuss measures to minimise the effects of the Russian import ban and to open new export markets.
The government also intends to discuss the retaliatory sanctions directly with Finnish businesses.
“I am very concerned about the effects of the Russian retaliatory sanctions on individual companies. I will personally visit the companies that are hardest hit by the measures,” said Minister for European Affairs and Foreign Trade Lenita Toivakka.
The Russian government has banned certain agricultural and food imports. The ban covers certain meats, meat products and meat sub-products, milk and dairy products (including cheese), root vegetables, vegetables, fruits and nuts, food products based on vegetable oil, and fish, shellfish, scallops and other aquatic invertebrates from the EU, the United States, Canada, Australia and Norway. The import ban is to last for a year from its announcement.
