Russian Retaliation: Putin Orders Ban On All Food Imports From Sanctioning Countries For A Year

http://www.zerohedge.com/news/2014-08-06/russian-retaliation-putin-orders-ban-all-food-imports-sanctioning-countries-year

Last week we noted Russia was considering banning fruit from Europe (as well as various other sanctions retaliations) but this morning Vladimir Putin has come out swinging by signing 'a decree on countermeasures to Western sanctions':

*PUTIN BANS FOOD IMPORTS FROM COUNTRIES SANCTIONING RUSSIA: IFX
*PUTIN ORDERS GOVT TO PREVENT ACCELERATED GROWTH OF FOOD PRICES

So trade wars escalate externally and price controls internally. It appears theUS (and Europe) will indeed feel "tangible losses" despite Jack Lew's promises.