The new aid package will last until July 2016 and targets European fruit and vegetable producers.
"We need to continue to provide a safety net in order to give security to producers who continue to face difficulties in relation to the ban," EU Agriculture Commissioner Phil Hogan said, adding that the EC’s measures had already helped ease the negative impact of the Russian embargo.
Russia’s Agriculture Ministry earlier said it was looking for ways to extend its food import ban also to Montenegro, Iceland, Norway, Albania, Liechtenstein, Ukraine and Georgia which had previously introduced sanctions against Russia.