Western analyst: sanctions against Russia in Europe cost 10 times more expensive than the US

Sanctions against Russia cost the EU economy is ten times more than the United States, the executive director of the Transatlantic Academy and expert of the German Marshall Fund of Stefan Sabo.

European economies suffered from the sanctions against Russian losses ten times larger than the United States. For example, EU trade with Russia fell from 326.5 billion euros in 2013 to 210 billion euros by 2015, while US trade with Russia dropped from 38.2 billion to 23.6 billion dollars in the same period of time “, - says the analyst in his article published on the website of Marshall Fund.

“Germany has taken the initiative to form a united Western response, despite the fact that there was a major economic partner of Russia”, - he added.

However, in his opinion, these losses are not the reason for the easing of the sanctions pressure. The author considers sanctions on Russia as a “pure demonstration of Western solidarity.”

Meanwhile, not all of Europe is of the same opinion. So the regional parliament in Venice May 18 to consider a resolution against the sanctions against the Russian Federation, which also refers to the recognition of the Crimea right to self-determination. The initiators of the introduction of the document began 25 MPs (of Venetian Parliament 51 people). One reason for this resolution, the EU called huge losses due to the sanctions.

Italian Foreign Ministry said the resolution is neither the position of the country or region. But analysts do not exclude that the Venice initiative could lead to a weakening of anti-Russian sanctions.

Russia and the West’s relations soured because of the situation in Ukraine. Russia in August 2014 to restrict imports of food products from countries that have imposed sanctions against her: USA, EU, Canada, Australia and Norway. Under the ban were meat, sausages, fish and seafood, vegetables, fruits, dairy products. In June 2015, in response to the extension of sanctions Russia prolonged the embargo for a year.

18 May 2016

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