Sanctions on Russia costs billions

Economy 12:33 19.02.2019

Various restrictions, including economic sanctions, introduced by other countries cost Russia $6.3bln by late 2018, according to the estimates of the Economic Development Ministry presented on Tuesday.

These restrictions include anti-dumping duties, licensing, quotas, technical barriers, sanitary and phytosanitary measures and also economic sanctions.

Russia suffered the biggest loss ($2.42bln) due to restrictions introduced by the EU countries. US sanctions cost Russia nearly $1.17bln, and Ukraine’s restrictions were the third hard-hitting to the tune of $775mln, the ministry said

The European Union ranks top in terms of the number of restrictions (25), while Ukraine imposed 22 restrictions on Russia. India took the third spot for the number of restrictions, while the United States came sixth with just nine restrictions, falling behind Belarus and Turkey. By the end of 2018, 62 countries imposed a total of 159 restrictions against Moscow.

Related​: Russia to respond in kind to new US sanctions after their approval - Kremlin aide

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