Biting the Hand That Feeds You: Anti-Russian Sanctions to Cost EU €100 Bln

© Sputnik / Vladimir Sergeev / Go to the photo bankFlags of Russia, EU, France
Flags of Russia, EU, France - Sputnik International
The sanctions imposed by the European Union against Russia over its stance on the Ukraine crisis and Moscow’s countermeasures will cost Europe €100 billion and endanger over 2 million jobs, Russia’s EU ambassador warned on Wednesday.

White House in Washington - Sputnik International
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“The economic cooperation between Russia and the EU we spent so much money and effort to make happen remains an important safety net creating new jobs and generating economic growth in Europe, while keeping political tensions out. We need to expand this safety net, not dismantle it,” Vladimir Chizhov told the participants of the European forum now under way in Alpbach, Austria.

“According to a forecast just released by the Austrian Institute of Economic Research (WIFO) the EU sanctions against Russia will cost Europe €100 billion and over 2 million jobs,” he added.

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