In a significant development, Ecuador has seen the lifting of a Russian import ban on its bananas, a move that had initially stemmed from a contentious weapons transaction with the United States favoring Ukraine. Russian authorities had attributed the ban to pest detection, impacting not only bananas but also flowers, mere weeks following Ecuador's alignment with a US military exchange. This deal entailed Ecuador supplying Soviet-era military assets to Ukraine, a decision that did not sit well with Moscow.
Ecuador's Trade Minister, Sonsoles Garcia, announced the cessation of the embargo affecting five banana exporters, declaring, "Good news. 100% of Ecuadoran banana exports to Russia are operational!" This breakthrough underscores the nations' mutual commitment to sustaining their historically strong trade relations, with Ecuador being a leading banana and flower exporter globally. Russia, a major recipient of Ecuadorian bananas, had its media highlight that nine out of ten bananas in the country are sourced from Ecuador.
The backdrop to this trade dispute includes a $200 million arms exchange agreement between Ecuador and the US, intended to modernize Ecuador's military capabilities while supporting Ukraine against Russia. This arrangement was criticized by Russia, emphasizing that it violated a pre-existing agreement against third-party equipment transfers without Russian consent. Despite these tensions, the diplomatic dialogue has facilitated the resumption of trade, echoing the sentiments of Ecuador's ambassador in Moscow, Juan Fernando Holguin, about the essential nature of continuous dialogue for positive bilateral relations.
Source: barrons.com