06:14 GMT25 July 2021
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    Western Sanctions Against Russia (737)
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    Spanish Foreign Minister Jose Manuel Garcia-Margallo said that European Union lost 21 billion euros (around $24 billion) due to sanctions against Russia. Spain suffered in agriculture and tourism.

    BRUSSELS, (Sputnik) – The European Union has lost approximately 21 billion euros (around $24 billion) because of sanctions imposed against Russia over the Ukrainian crisis, Spanish Foreign Minister Jose Manuel Garcia-Margallo said Monday.

    "Sanctions have cost all of us dearly; the EU has lost 21 billion euros at this point. In Spain, we have suffered in agriculture and tourism," Garcia-Margallo said before a meeting of heads of European Union foreign ministries.

    Last week, western media reported that on Monday, EU foreign ministers will expand the anti-Russia sanctions list by adding another 19 Russian and Ukrainian officials and nine organizations.

    The internal conflict in Ukraine has become a major point of contention between Russia and the West. The European Union, the United States and a number of allied nations have imposed several rounds of restrictive measures against Russia, aimed at weakening the country's defense, banking and energy sectors.

    In response, Russia instituted a one-year embargo on food from the United States and Europe, banning imports of meat, fruit, vegetable and dairy products.

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    Western Sanctions Against Russia (737)

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