MOSCOW: Alexei Meshkov Russian Deputy Foreign Minister advised the European Union to lift sanctions against Moscow over the Ukrainian conflict and promised to waive its counter measures.
In August Moscow banned most Western food imports, worth $9 billion a year, in response to U.S. and European Union sanctions over Russia’s role in Ukraine.
Meshkov said we do not expect anything from our European partners. The only thing we expect is to leave the meaningless sanctions spiral and move on to the path of lifting the sanctions and dropping the blacklists.
Further Meshkov put the losses from sanctions for the EU at $50 billion next year, adding that trade turnover in some products between Russia and Europe has declined by double digit percentages.
On the earlier this week, Finance Minister Anton Siluanov said lower oil prices and Western financial sanctions will cost Russia around $130 billion-$140 billion a year, equivalent to around 7 percent of its economy.
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