RT
EU member states have lost around $1.5 trillion due to the sweeping sanctions introduced against Moscow, Russian Deputy Foreign Minister Aleksandr Grushko said on Friday.
The diplomat added that he sees no sign of the bloc reversing its policies toward Moscow in the near future.
“The entire losses the EU sustained due to the imposition of sanctions and the decisions to curtail cooperation with Russia have totaled, at a conservative estimate, some $1.5 trillion,” Grushko told journalists on the sidelines of the Verona Eurasian Economic Forum in Samarkand, Uzbekistan.
He noted that mutual trade between Russia and EU member states had amounted to $417 billion in 2013, and claimed it could have reached $700 billion this year were it not for Ukraine-related sanctions.
Grushko added that the trade volume had totaled $200 billion in 2022, but is expected to drop to less than $100 billion by the end of 2023.
“Next year, it will further decline to $50 billion, and will be on the way to zero thereafter,” he concluded.
Germany’s industrial sector now has to purchase natural gas at prices three times higher than it costs in the US, according to the diplomat. He stressed that production lines are gradually relocating to North America despite red flags being raised by German businesses.
So far, Brussels has introduced 11 sanctions packages against Russia over its military operation in Ukraine. The number of restrictions has reached tens of thousands, although officials in the EU and the US have repeatedly admitted that the negative impact of the measures on Russia has not been as significant as expected.
[…]
Via https://www.rt.com/business/586479-eu-sanctions-russia-losses/
The Most Revolutionary Act 
shot themselves in the foot… cut off their nose to spite their face…
LikeLiked by 1 person
They are afraid of America when they shouldn’t be. America is more akin to the Wizard of Oz.
LikeLiked by 2 people
That’s a very apt analogy, papasha408.
LikeLiked by 2 people
Russians are more hearty souls, they can withstand sanctions whereas those of us in the US are so drug addicted and drunk, we can barely acknowledge that we’ve blown ourselves up with our meth labs or just been revived with Narcan since one would think that we are reeling from sanctions. We actually are because the US is using sanctions against her own people since why else are we out in the streets, drug addicted, drunk and homeless by the millions? We are the ones who have lost, not the Russians and any country that associates itself with this cesspool is lost and reeling along with US.
LikeLiked by 1 person
As a recall, Russia has been under more or less continuous sanctions since 2014, when the CIA organized the fascist coup in Ukraine. Those were never lifted. Instead new sanctions were added in 2016 with the Magnitsky Act, named after a Russian wheeler-dealer, who allegedly died in prison after embezzling a bunch of money and with the Novichok scandal in 2021 after Putin was blamed for the release of a deadly nerve agent produced in a British experimental lab in Salisbury. Putin made appropriate adjustments to this continuous sanctions regime in 2014, but improving Russia’s self-sufficiency both agriculturally (by starting large scale organic farms all over the country) and industrially – to reduce their dependence on imports. Unlike the Western world, Russia never fell for the trap of exporting all their manufacturing to Southeast Asia.
LikeLiked by 2 people
I have to admire Putin and Xi Jinping for their resiliance in the face of so much hostility from the West. The EU, NATO, and the US have made it as difficult as possible for Asia to trade with the West, so naturally they would seek other markets. Who wouldn’t?
LikeLiked by 1 person
Me, too, Katherine. It’s like the US is determined to goad them into launching World War III.
LikeLiked by 2 people
That is exactly what they are trying to do, Dr. Bramhall. We are dealing with unhinged lunatics who are always pointing the finger at China and Russia and calling them despots and Communists and anything else they can throw at them, and these useless Americans fall for that mess while being herded into abject poverty, inflation with no end in sight and hunger which will soon make “The Hunger Games” look like a game of “Monopoly.”
LikeLike
In my view, it’s all a distraction, Shelby, intended to confuse and scare us.
LikeLike
Pingback: ‘Autism Tsunami’: Society’s Cost to Care for Expanding, Aging Autism Population Will Hit $5.54 Trillion by 2060 | Worldtruth