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Anti-Russian sanctions

Anti-Russian sanctions of EU not having expected impact on trade — web portal

The new package of sanctions may block about 3 bln euro related to LNG projects and reduce helium imports by the EU by 1 bln euro

BRUSSELS, June 21. /TASS/. Sanctions of the European Union against Russia do not have the negative effect it expected and the EU countries continue trading with Russia in many sectors, the EUobserver web portal said.

According to Finland’s estimates cited by the web portal, thirteen packages of sanctions limited only 49% of European exports to Russia and 58% of EU countries’ imports from Russia. According to the news portal, the trade turnover in energy, metals, machinery and chemicals is 89 bln euro per year at the moment and 17 bln euro per year in the services sector. EUobserver also cited data of the Yale University, according to which 63 German companies continue operations in Russia.

The new package of sanctions may block about 3 bln euro related to LNG projects and reduce helium imports by the EU by 1 bln euro. The news portal said that such consequences are much lower than expected by the EU nations when discussing the new package.

EU permanent representatives agreed earlier upon the fourteenth package of anti-Russian sanctions, which includes the ban on Russian LNG transit via EU ports and restrictions of helium imports from Russia. According to the draft document, the package includes sanctions against the oil tanker fleet and restrictions of access to dual-use technologies.

Tags

Sanctions vs. Russia

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