Russian sanctions threaten Greek fur industry

“Despite its hot Mediterranean climate, Greece sold 136,446 fur coats worth 108 million euros ($140 million) to Russia in 2012 — 23 percent of its total exports to the country, RIA Novosti reported, citing the Greek statistics agency,” the article suggests.

Export volumes fell to 86 million euros in 2013, but this year is looking worse.

Russia has been banning imports from Europe, after the EU agreed on new sanctions against Russia, targeting its finance, energy and defence sectors over the conflict in Ukraine. Until now fur is excluded from the ban, but Greek fur-makers fear that the Russians might expand the embargo to their fur products. The ban is already being felt, however, as the ban has halted the stream of Russian tourists, who traditionally seek out furs when visiting Greece.

"This year there are no sales. I'm not seeing any Russian buyers," an Athens furrier told RIA Novosti.

Last week, hours after the new EU measures were announced, Andrei Belousov, an aide to President Vladimir Putin, said counter-sanctions could affect imports of cars and clothes. It is not clear whether fur would be affected, the article ends.