02:16 GMT +307 December 2019
Listen Live
    Sanctioned foods destroyed in Russia

    Return to Pre-Sanctions Level of EU-Russia Trade Requires Political Change

    © Sputnik / Viktor Tolochko
    Get short URL
    Western Sanctions Against Russia (737)

    A return to the level of trade between Russia and the European Union that existed before Western sanctions were imposed against Russia is impossible without political decisions on the part of Moscow and Brussels, Russia's First Deputy Economic Development Minister Alexei Likhachev said.

    RUSSKY ISLAND (Sputnik) – The minister recalled that in 2013, when Russian-EU trade was at its highest, the trade volume stood at $436 billion, with direct investment volume reaching $350 billion.

    "We are currently in a state of awaiting a signal from Brussels regarding formal consultations, formal talks in any format convenient for the European Union," Likhachev said on Friday, explaining that "without a clear political signal, with no conceptual reversal in the relations between Moscow and Brussels there will certainly be no return to the same figures on the volume of trade."

    Likhachev stressed that Brussels has not signaled its readiness to start talks on sanctions in the past two and a half years.

    The United States, the European Union and some of their allies have introduced several rounds of anti-Russia sanctions since Crimea reunified with Russia in 2014, accusing Moscow of meddling in the internal Ukrainian conflict.

    Russia has repeatedly refuted the accusations and warned that the sanctions are counterproductive and undermine regional and global stability.

    Likhachev said on Friday that the latest expansion of US sanctions against Russia will only have a minimal impact on the Russian economy.

    Western Sanctions Against Russia (737)


    US Adds 5 Russian Defense Companies, Gazprom Entities to Sanctions List
    To a Tee: Rosneft Fulfilling Commitments in Russian Far East Despite Sanctions
    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions
    Germany’s Merkel Has 'Very Greatest Interest' in Ending Russia Sanctions
    US Lifts Sanctions on Lebanese Company for Sending Cash from Russia to Syria
    EU Lies to Moscow: Official Reveals Sanctions Not Related to Ukraine Peace Deal
    anti-Russian sanctions, European Union, Alexei Likhachev, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik