Expert: loss of the West from sanctions in the export of approximately €3 billion by the end of the year

Expert: loss of the West from sanctions in the export of approximately €3 billion by the end of the year

MOSCOW, November 6. Export losses from the Western sanctions to date amount to €2.2 billion by the end of 2015 will amount to about €3 billion On this interview in the “International review” on TV channel “Russia 24” said the Vice-President of the Italian-Russian chamber of Commerce Vincenzo Trani.

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“We wanted this report to the Bocconi University and the results were, of course, sad. Loss total exports of €2.2 billion to date. At the end of 2015, these losses reach about €3 billion,” he said.

“How much, and how, and when will be the lifting of the sanctions is clear – at the end of term,” – said Trani.

In 2014, the EU imposed sanctions against Russia in connection with events in Ukraine and the reunification of the Crimea with Russia and repeatedly expanded and renewed. Were suspended talks on visa-free regime and on a new basic agreement on cooperation, a ban on entry to EU countries for officials from the Russian Federation and frozen their assets, the restrictive measures imposed trade, financial and military nature. Just in the sanctions lists were 151 people and 37 entities. Sectoral sanctions apply to 20 Russian financial, oil and defense structures.

Russia August 7 2014 limited the import of food products from countries that have imposed sanctions against her: USA, EU, Canada, Australia and Norway. A ban were meat, sausage, fish and seafood, vegetables, fruits, dairy products. Later the sanctions had been withdrawn dietary supplements, sports, baby and medical nutrition (including lactose-free products). Predamage was extended for one year until August 6, 2016 with the same exceptions. In addition, the list of countries against whom sanctions have been imposed, has been expanded – it also includes the Republic of Albania, Montenegro, the Republic of Iceland and the Principality of Liechtenstein.