The introduction of EU sanctions against Russia and further Russian counter-sanctions the EU economy in 2015 suffered losses in the amount of 17.6 billion euros. This is stated in the study by the Austrian Institute of economic research (WIFO), committed by order of the Ministry of economy of Austria, the data which leads the Austrian newspaper Der Standard, Deutsche Welle reports.
Sanctions, according to these data, has led to a reduction of 400 thousand jobs across the EU.
At the same time, the study indicates that due to the weakness of the Russian economy trade of the EU with Russia and no sanctions has been weakened. Overall, only 44% of the decline of the trading indicators can be linked directly to sanctions, the researchers note.
Without the introduction of restrictive measures losses from lower European exports to Russia amounted to 22 billion euros.
As reported, the action introduced the 2014 European Union sanctions against Russia recently extended until July 31, 2017. Restrictive measures the West has imposed in response to the aggressive policy of the Russian Federation in Ukraine and the annexation of Crimea.
