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EU loses over 1 trillion euros from reduction of gas supplies from Russia — RDIF chief

The US’ losses from sanctions exceed $300 bln, Kirill Dmitriev added

ST. PETERSBURG, June 19. /TASS/. The European economy has already lost over 1 trillion euros from reduction of supplies of Russian gas, Chief Executive Officer of Russian Direct Investment Fund (RDIF), Special Representative of Russian President for investment and economic cooperation Kirill Dmitriev told TASS.

"This is definitely more than 1 trillion [euro], this is important that we have the figure for the European Union," he said when asked about the estimated loss of the European Union from reduction of supplies of Russian gas.

The US’ losses from sanctions exceed $300 bln, Dmitriev added.

In May 2022, the European Union launched the REPowerEU program to eliminate Europe’s reliance on Russian gas by 2027. Meanwhile, the cost of Russian LNG imports for the EU has nearly quadrupled in three years due to rising prices and increased supply volumes. Before 2022, the European Union purchased 40% of gas from Russia, by 2023 this share had decreased to around 15%, though in 2024 it started growing again, having reached almost 19%, which courted fierce criticism from Brussels.