Russia’s missile early warning system helps ward off any threatMilitary & Defense June 29, 15:19
Jury to deliberate on verdict in Nemtsov murder caseSociety & Culture June 29, 15:08
Foreign customers interested in Russia’s latest icebreaker projectBusiness & Economy June 29, 14:22
British media accuse Russian footballers of doping after failure to host 2018 World CupSport June 29, 14:08
Russia’s budget deficit to fall almost by half in 2018 — PM MedvedevBusiness & Economy June 29, 13:59
Diplomat reassures that Russia, US ‘not in state of conflict’ over SyriaRussian Politics & Diplomacy June 29, 13:39
Kiev court decides to try ex-president accused of high treason in absentiaWorld June 29, 13:34
Moscow warns US of tit-for-tat response to diplomatic property seizureRussian Politics & Diplomacy June 29, 13:30
US aviation authorities notify Aeroflot of extra air-safety measuresBusiness & Economy June 29, 13:18
SOCHI, October 2. /TASS/. The European Union’s losses from the sanctions against Russia are estimated at about $100 billion, and Russia’s, at $20-25 billion, First Deputy Economic Development Minister, Alexey Likhachev, said on the sidelines of the International Investment Forum Sochi-2015.
He believes that Russia’s countermeasures have hit only the Western countries.
"We can see no direct damage (to Russia) from countersanctions, because farm produce providers from the blacklisted states are being smoothly substituted by their counterparts in third countries," Likhachev said.
Also, Russia’s food embargo allows for developing local production at a higher pace, Likhachev believes.
"And, of course, import substitution. We see a major upturn in Russia’s farming these days," he said.