A Bizarre Move By Putin

Russia is going to ban imports of certain food products from the USA and the EU in retaliation for the so called sanctions imposed on Russia by those countries. It is a bizarre move by Putin and Russia, one which consists basically of the Russians driving up the cost of food for the average consumer across Russia.  The quantity of food imports into Russia is not so great that the cut off of imports will result in shortages.  Indeed, Russia will be able to replace the banned food imports with products from other countries.  There may be some switching; different fruits and vegetables depending on the country from which Russia gets its supplies.  For items like meat, however, that will not be the case.  Chicken purchased from the USA may be replaced by chicken from other countries, but the cost will be higher.  That will mean higher prices for the average Russian in the grocery store.  The same will be true for beef, pork and lamb. 

It is bizarre that Putin would choose the course that increases the cost of living for the average citizen.  There may be some pain to the agricultural sectors of the US and EU economies, but these will be minor at most.  The only group that will truly suffer is the Russian consumer.