17:35 GMT21 January 2021
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    Western Sanctions Against Russia (737)

    The EU sanctions against Russia inflicted financial losses estimated at 25 billion euro in 2015, according to the economic development minister.

    MOSCOW (Sputnik) — Russia's losses from European Union sanctions are estimated at 25 billion euro (some $27 billion) in 2015, Russian Deputy Economic Development Minister Alexei Likhachev said Wednesday.

    "We estimate losses from [EU] sanctions and [Russia's] response measures at $40 billion in 2014 and $50 billion in 2015 for the European Union. And at 25 billion euro for Russia last year, minus around 1.5 percent of GDP," Likhachev said at the Gaidar Forum.

    Preliminary data show that the trade volume between Russia and the European Union fell by 40 percent last year, according to the deputy minister.

    Western Sanctions Against Russia (737)


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    sanctions, Russian Ministry of Economic Development, Alexei Likhachev, Russia
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