Russian food embargo and changes in agri-food export patterns
Résumé
We analyse the impact of the Russian food embargo on European and Russian trade patterns using a difference-in-difference and a triple difference approach. We estimate product-level bilate- ral monthly trade flows on time-varying product- and country-specific fixed effects, and dummies reflecting the span of the import ban across origin countries and products, as well as its evolu- tion over time. Results show that most EU exports banned by Russia were redirected to third markets, mainly in North America and West Asia. The withdrawal of banned food products from the Russian market led to important gains for Asian and Latin American suppliers.