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Russia's losses due to EU sanctions and counter-sanctions estimated at €25 bln in 2015

January 13, 17:16 UTC+3
First Deputy Minister of Economic Development Alexey Likhachev estimated the losses of the European Union at €50 bln in 2015
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© Sergei Bobylev/TASS

MOSCOW, January 13. /TASS/. Russia’s losses due to EU sanctions amounted to €25 bln in 2015, while losses of the European Union stood at €90 bln in 2014-2015, First Deputy Minister of Economic Development Alexey Likhachev said on Wednesday at 2016 Gaidar Forum.

"We estimate losses from imposed sanctions and response measures as €40 bln in 2014 and €50 bln in 2015 for the European Union. We forecast €25 bln euro losses for Russia [due to EU sanctions] in 2015 or somewhat minus 1.5% [from that figure]," the official said.

The adverse effect for Russia will decline, the official added. "The economy is obviously adapting and companies are adapting to such [sanctions] conditions," Likhachev said.

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