Trade

Fonterra has limited exposure to Russia

Rebecca Howard
Thu, 27 Jan 2022

Fonterra has limited exposure to Russia
Russia has reportedly assembled more than 100,000 troops on the Ukraine border. (Image: Unsplash)
Rebecca Howard
Thu, 27 Jan 2022
Should the Russia-Ukraine situation escalate there is likely to be little impact on Fonterra given that New Zealand can't unilaterally impose any trade sanctions. “We have a long-standing policy – which I think has served both Labour and National governments very well over a long period of time – that we only have the legal authority to impose trade sanctions pursuant to a UN Security Council resolution on the issue,” said Tim Groser, former trade ministerGiven that Russia is a member of the security council and...

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