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Two years of sanctions against Russia to cost Europe €90 billion — Russia FM

October 14, 2014, 15:02 UTC+3 MOSCOW

Russian Foreign Minister Sergey Lavrov met EU business people and said Russia will make no exception for any European companies

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© ITAR-TASS/Yuri Smityuk

MOSCOW, October 14. /TASS/. Europe will lose €90 billion from sanctions imposed on Russia in 2014 to 2015, Foreign Minister Sergey Lavrov said at a meeting with European business people in Moscow on Tuesday.

Europe may lose €40 billion from unilateral anti-Russian sanctions this year and €50 billion in 2015, the minister noted. “Now we should assume that these figures may be probably specified in the direction of growth,” Lavrov noted.

Lavrov also said Russia will not make exception for several European companies that do not agree on Western anti-Russian sanctions.

“I believe that there cannot be any exception for concrete companies, you’d better encourage your governments to move in the right direction,” he said.

Infographics Economical sanctions against Russia

Economical sanctions against Russia

The USA, EU, Canada and Australia have introduced sanctions against Russia over its involvement in the Ukrainian crisis. Infographics by ITAR-TASS
Lavrov recalled that representatives of several European companies have already proposed to Moscow not to take restrictive measures against them, if they refuse fulfilling EU sanctions.

“I am aware that similar ideas are voiced in Italy,” he noted, adding that “In [north-eastern Italy] the Veneto region business people have put forward an initiative not to observe EU sanctions in this concrete region and in return they hope that measures which Russia had taken to protect its domestic food market will not be applied to their companies,” Lavrov said.

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