© 2018 Neon Nettle

Subscribe to our mailing list

Advertise Contact About Us Write For Us T&C's Privacy Support Us © 2018 Neon Nettle All Rights Reserved.

The EU Loses over €100bn Because Of its Own Anti-Russia Sanctions

Despite the restriction policy having no financial effect on the US,

By: Daniel Newton  |@NeonNettle
 on 7th November 2018 @ 1.00am
despite the restriction policy having no financial effect on the us © press
Despite the restriction policy having no financial effect on the US,

The European Union has shot itself in the foot after doing Washington's bidding and sanctioning Russia, according to Russian Foreign Minister Sergey Lavrov.

Despite the restriction policy having no financial effect on the US, the EU has suffered billions in losses.

According to an interview the Spanish newspaper El País, Lavrov described the sanction as 'far from normal.'

"The mythical 'Russian threat' is forced upon the Europeans, primarily, from the outside," Lavrov said.

The main bone of contention between the EU and Russia –sanctions– was imposed by the European nations "on direct orders" from Washington.

With that said, the US has hardly felt any adverse effect from the policy it championed, unlike the EU.

the eu loses over    100bn because of its own anti russia sanctions © press

"Estimates of losses incurred by the EU states from the sanctions vary. According to some estimates, they might amount to over €100 billion. It's important that European politicians understand this," the minister said.

Russia, which had to retaliate with tit-for-tat measures, is ready to lift the restrictions it imposed on European goods back in 2014.

"We have spoken repeatedly about our readiness to abolish countermeasures," Lavrov said.

However, the EU must make the first step.

"We hope that common sense will eventually prevail since, objectively speaking, the sanctions neither benefit Russia nor the EU," the diplomat added.

the eu loses over    100bn because of its own anti russia sanctions © press

According to RT: The EU imposed an array of economic sanctions on Russia after its reunification with Crimea, which followed a coup in Kiev and the subsequent civil war in eastern Ukraine.

The sanctions target Russia's military and banking industry, as well as senior government officials and high-profile businessmen and politicians. The EU has repeatedly extended the sanctions.

In July, the EU Council prolonged the measures targeting the Russian economy until February 2019 and, in September, it extended until march restrictive actions against 155 persons and 44 entities.

Meanwhile, more and more prominent voices have been speaking out in favor of lifting the restrictions.

Last week, former French President Nicholas Sarkozy told media that the sanctions were "counterproductive" and only serve to alienate Moscow and drive it closer to China.

Share this post:
tags: Europe  | Russia

Facebook is heavily censoring information from independent sources.

To bypass internet censorship, connect with us directly by enabling our notifications (using the red subscription bell in the bottom right corner) or by subscribing to our free daily newsletter.

Get the latest news delivered straight to your inbox for free every day by signing up below.

SUBSCRIBE NOW

Subscribe to our mailing list

Whatfinger banner

Follow NN


PREV
BOOKMARK US
NEXT