EU and Russia suffer billion euro losses due to sanctions
(VOVworld) - EU sanctions cost Russia 25 billion euro in 2015, while Moscow claims the EU suffered 90 billion euro losses over the same 2014-2015 period.
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| People stand at a bus stop in front of an exchange office sign showing the currency exchange rates of the Russian ruble, U.S. dollar, and euro in Moscow, Monday, Jan. 11, 2016 (Photo: AP) |
Russian Deputy Economic Development Minister Alexei Likhachev said on Wednesday that the anti-Russian sanctions and counter measures cost the European Union up to 40 billion euro in 2014 and another 50 billion euro in 2015 as a result of Russia sanctions over the crisis in Ukraine.
Since July, 2014, the EU imposed economic sanctions targeting exchanges with Russia in specific economic sectors due to the crisis in Ukraine. In response, Moscow imposed a ban on import and export of food and goods from the EU member countries. The economic sanctions are extended until 31 July 2016.