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EU’s losses from anti-Russian sanctions snowballing, diplomat says

The EU's losses include a reduction in EU exports to Russia, Vladislav Maslennikov, director of the Russian Foreign Ministry’s department of European issues, said

MOSCOW, January 13. /TASS/. The EU’s losses from sanctions on Russia are snowballing, Vladislav Maslennikov, director of the Russian Foreign Ministry’s department of European issues, told Izvestia in an interview.

"And we can finally take the falling GDP growth into account, too. Back in early 2022, the European Commission assumed in its economic forecasts that the bloc would show at least a 4% growth. As a result, in 2022, [the EU economy] saw a 3.4% growth, and the 2023 figure was even lower at just 0.4%. According to official data, last year’s growth is expected to reach around 0.9%. Therefore, the bloc’s member countries have lost hundreds of billions of euros since 2022. The losses the EU has suffered from its sanctions war on Russia are huge already and have been snowballing," the newspaper quoted the senior Russian diplomat as saying.

Also, the EU's losses include a reduction in EU exports to Russia. According to Eurostat, exports to Russia fell by 51 billion euros. And in the first half of 2024, EU exports to Russia dropped by almost 5 billion euros against the same period of last year.