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Damage caused by sanctions against the Russian Federation has been calculated, it amounts to 6.3 billion US dollars

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Damage caused by sanctions against the Russian Federation has been calculated, it amounts to 6.3 billion US dollars
February 20
13:00 2019

According to the Ministry of Economic Development, there are about 160 restrictions for goods produced in the Russian Federation, which were imposed by more than 60 states. The damage from these sanctions is approximately $ 6.3 billion.

Most of the restrictions were adopted by Europe, Ukraine, Belarus and Turkey. The EU restrictions cost US $ 2.4 billion, US sanctions worth US $ 1.1 billion, and Ukraine – 775 million US dollars.

The damage for metallurgical enterprises is about 4 billion US dollars. For agriculture, the amount of losses is estimated at $ 1.1 billion, for the auto industry – $ 300 million.

The Ministry reports that in 2018, it was possible to avoid, relax or lift 32 restrictions that would negatively affect the access of domestic goods to foreign markets. Experts estimate the cumulative potential damage from their use at $ 330 million.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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