Begin typing your search above and press return to search.
Women and girls need to be safe
access_time 2021-01-15T15:08:45+05:30
Another Trump impeachment
access_time 2021-01-15T11:16:29+05:30
Covid 19 spread
access_time 2021-01-14T15:40:30+05:30
Freezing the Centre or the farmer protest?
access_time 2021-01-14T12:55:08+05:30
DEEP READAll arrow_drop_down
Anti-Conversion Law: A law meant for abuse
access_time 2021-01-12T13:56:35+05:30
Syed Shahriyaar
access_time 2021-01-05T19:08:46+05:30
Reading A week in the life of Svitlana
access_time 2020-12-23T12:06:42+05:30
Hum Dekhenge- One year of Anti-CAA protests
access_time 2020-12-22T17:35:06+05:30
The French Fanatic and the Fanatic Fringe
access_time 2020-11-02T15:56:00+05:30
Homechevron_rightWorldchevron_rightSanctions caused...

Sanctions caused Russia, EU to lose tens of billions of dollars

Sanctions caused Russia, EU to lose tens of billions of dollars

Moscow: Russian Prime Minister Dmitry Medvedev Wednesday admitted that Western sanctions have caused Russia lose tens of billions of dollars, while noting that the European Union (EU) has sustained significant losses as well.

"Our economy, probably, has lost tens of billions of dollars," Medvedev said in a televised interview with journalists from five different channels.

Medvedev said that sanctions imposed by the US and the EU in retaliation for after Crimea acceded to Russia and support for separatist rebels in the eastern Ukraine has hurt both Russia and those who imposed them.

"According to calculations by Russian economists, the European economy lost 40 billion euros (almost $50 billion) this year and is likely to lose 50 billion euros ($62 billion) in 2015," Medvedev said.

The Russian leader admitted that the ruble has weakened as a result of plunging world oil price, but predicted that results for the current year will be positive.

"There will be annual GDP growth, which is important when compared with other countries," he said, pointing out that inflation might exceed 9 percent this year.

The ministry of finance has said it expected the Russian economy to slow by 0.8 percent next year if sanctions remained in place and oil prices continued to fall.

Show Full Article
Next Story