According to Russian Deputy Foreign Minister Aleksandr Grushko, EU member states have lost around $1.5 trillion as a result of the sweeping sanctions imposed on Moscow.
The diplomat went on to say that he sees no signs of the EU changing its stance towards Moscow in the near future.
“The total losses sustained by the EU as a result of sanctions and decisions to curtail cooperation with Russia have totaled, at a conservative estimate, approximately $1.5 trillion,” Grushko told journalists on the sidelines of the Verona Eurasian Economic Forum in Samarkand, Uzbekistan.
He stated that mutual trade between Russia and EU member states totaled $417 billion in 2013, and that it could have reached $700 billion this year if Ukraine-related sanctions had not been imposed.
Grushko added that the trade volume had totaled $200 billion in 2022, but is expected to drop to less than $100 billion by the end of 2023.
“Next year, it will further decline to $50 billion, and will be on the way to zero thereafter,” he concluded.
According to Russian Deputy Foreign Minister Aleksandr Grushko, EU member states have lost around $1.5 trillion as a result of the sweeping sanctions imposed on Moscow.
The diplomat went on to say that he sees no signs of the EU changing its stance towards Moscow in the near future.
“The total losses sustained by the EU as a result of sanctions and decisions to curtail cooperation with Russia have totaled, at a conservative estimate, approximately $1.5 trillion,” Grushko told journalists on the sidelines of the Verona Eurasian Economic Forum in Samarkand, Uzbekistan.
He stated that mutual trade between Russia and EU member states totaled $417 billion in 2013, and that it could have reached $700 billion this year if Ukraine-related sanctions had not been imposed.