Lavrov said that the EU lost 250 billion euros due to sanctions against Russia
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Business in Europe has lost up to 250 billion euros due to sanctions against Russia, Russian Foreign Minister Sergei Lavrov said during an embassy round table on resolving the situation around Ukraine.
“Over the past year and a half, according to very modest, conservative estimates, European business has lost up to 250 billion euros due to Western unilateral sanctions. This is a big number,” the minister said (quote according to RIA Novosti).
On November 3, Deputy Foreign Minister Alexander Grushko said that according to “the most conservative estimates,” the EU’s total losses from sanctions against Russia and decisions to curtail economic activity with it amount to approximately $1.5 trillion.
Grushko noted that next year trade turnover between Russia and the European Union could drop to 50 billion euros, and then the figure “may tend to zero.”
The President of the European Commission (EC), Ursula von der Leyen, announced on November 4 that the EU will soon present the next, 12th package of sanctions against the Russian Federation. The head of the EC clarified that new restrictions will include bans on imports and exports, as well as actions to tighten oil prices.
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