Russian sanctions starting to bite into Canadian export outlook – Business – CBC News.
Canadian exporters stung by Russia’s currency crisis and its retaliatory sanctions against the West wonder what 2015 will hold for a market filled with promise less than 12 months ago.
Companies from farm-equipment manufacturers to pork producers spent much of 2014 adjusting to the economic instability in Russia, a country that bought $563 million worth of Canada’s agricultural exports in 2012.
For some firms, the first half of 2014 had the hallmark of a banner year — and then sales evaporated.
A senior executive for one of Canada’s biggest exporters to Russia said his company did about $250 million in annual business there in recent years, mostly selling frozen pork products.
