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EU’s losses from worsening relations with Russia stand at up to €40 billion — lawmaker

March 16, 2015, 14:20 UTC+3 MOSCOW
The losses sustained as a result of dismantling a strategic partnership are considerable, and not only for Russia, Alexey Pushkov says
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© TASS/Sergey Bobylev

MOSCOW, March 16. /TASS/. EU’s losses from worsening relations with Russia stand at €21-40 billion, Russian State Duma’s Committee on International Relations Alexey Pushkov said on Monday.

"The losses sustained as a result of dismantling a strategic partnership are considerable, and not only for Russia," Pushkov said.

Citing Spanish Foreign Ministry’s statistics, he noted that EU lost around €21 billion from sanctions. According to Japanese economists, EU lost €30 billion, Pushkov added. "Several European experts say that we are talking about €40 billion [in losses]," the lawmaker stressed. "The aggregate amount of losses that European farmers sustained from Russian food embargo from European countries stood at €12 billion in 2014," he added.

In a period from January to August 2014, EU’s import to Russia dropped by 12%, or €10 billion. "If in 2013 the import over the same period [from January to August] constituted €80 billion, in 2014 it stood only at €70 billion," Pushkov said.

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