Unclear Situation: Will Russian Sanctions Affect Bosnia and Herzegovina?

A one-year ban on the import of certain agricultural products into Russia from countries that imposed sanctions on it or joined them over Ukraine was a response to the European Union, the US, Australia, Canada, but for analysts and economists at this moment it is not clear what these sanctions will actually be, writes the Bosnian news agency Patria.

We contacted several prominent analysts who are not ready to speak on this topic because it is still unknown whether and how the new situation will affect Bosnia and Herzegovina.

The sanctions of the European Union and the US primarily related to trade exchange, the banking sector and the oil industry. If this decision of Russia comes into force and its implementation begins, sanctions could also affect countries bordering Bosnia and Herzegovina, Montenegro and Croatia, which have long been exporting their products to Russia.

On the other hand, Serbia should not feel the sanctions, and a meeting was held to consider increasing exports to Russia. Also, as could be heard in recent days, Serbia will introduce enhanced border control and will not allow the export of products through its territory.

But as analysts said, Serbia in this case will not be able to "sit on two chairs", meaning it should listen to the European Union, given its current status and approach to membership.

Bosnia and Herzegovina has still not joined the sanctions, but given the situation, it is increasingly likely that it will have to take a stance on this issue.

As announced by the EU, after this decision of Russia, further steps will be considered, and possibly new sanctions, all with the aim of calming the situation in Ukraine, writes Patria.