In a surprising and devastating turn of events, Russia invaded Ukraine. While this has had devastating effects on Ukraine and its people, world leaders have swiftly responded to Russia’s unlawful actions with sanctions. In turn, this has influenced the global economy and numerous industries.
The floral industry is no exception to this unrest. With Ecuador shipping large volumes of flowers to Russia and Russian sanctions in place, it has had a ripple effect throughout the industry. This article will delve into the latest floral industry news and discuss the consequences of the Russian sanctions on floriculture as a whole.
Payment issues
As the world responds to this tragedy, most nations have agreed to hit Russia with sanctions. One of these includes the blockage of the Swift system in Russia, effectively rendering the country unable to make foreign transactions. However, this doesn’t just affect Russians but also countries dealing with them. While Ecuador has already exported tons of flowers to Russia, they have yet to be paid. With Swift being blocked, this seems unlikely under the current situation.
Cancellations and trade restrictions
The advent of war has restricted trade and caused many cancellations. Export orders are being canceled, resulting in millions being lost. This is due to several factors, including transport, pricing difficulties, and even fuel.
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