Development of Russian Sugar Market in 2010–2019 in Context of European Economic Sanctions and Import Ban

International trade in agricultural commodities has developed in the Eurasian region over the last decade under the influence of a number of factors. One of the most important is related to sanctions affecting foreign trade activities between Russia and selected countries of the world. Sanctions in this regard have also affected the food market. The impact of sanctions is observable both at the level of items included directly in the sanction lists and also at the level of those items not directly included under the applied Russian import ban: In relation to those not included under the applied ban, the effect of sanctions is rather indirect. The indirect impact of the applied sanction is also related to Russian sugar market and sugar price development. The article attempts to describe the development of the sugar market in Russia in the last decade with regard to the above issues. Sugar price in Russia has been under the pressure from external prices for many years. However, shortly after the introduction of trade sanctions, the unit value of sugar price temporarily increased. Subsequently, however, unit sugar price was reduced again, primarily due to an increase in Russian domestic production. Later on, in 2019 sugar price returned to the level of the year 2010. In this respect, it should be emphasized that sugar price lags behind the consumer price index by an average of 11.9%. Based on the analysis, it can be stated that the import ban has a long-term negative effect on consumer sugar price. On the contrary, the market shock associated with the imposed sanctions caused an increase in sugar consumer price. Consumer sugar price returned to equilibrium 9 months after the recorded price shock. The import ban seems to be one of the most important factors for the Russian sugar market, along with other long-term factors.