ICOS: Measures on Russian import ban welcome but lack real impact

Measures introduced by the European Commission following Russia’s ban on imports of dairy and other products from the EU were welcome but lack real impact, the Irish Co-operative Organisation Society has claimed.

ICOS said the decision to introduce Storage Aid for butter, skimmed milk powder, and some cheeses is a positive one, and may reassure the markets that product can be stored away for a number of months.

In addition, the extension of the intervention buying-in period to the end of the year may help to give the signal that the Commission is ready and willing to act if markets fall excessively. The problem, however, is that the measures lack real impact.