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    The EC assessed the damage from the introduction of a new package of sanctions against Russia

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    Restrictions from the European Union (EU), after the introduction of the eighth package of sanctions against Russia, are estimated at 123 billion euros. This is reported by RBC with reference to the materials of the European Commission (EC).

    In the amount of damage, the EC included the volume of bilateral trade between Russia and EU countries (import exports) that existed in 2021, but are now unrealizable due to the imposed sanctions. This is more than 40 percent of last year’s total turnover of goods and services between Russia and the European Union.

    Earlier, EU representatives reported that a total of new bans would affect supplies from Russia worth 7 billion euros (according to data for 2021). With these funds, import restrictions amount to almost 90 billion euros. This amount includes the supply of Russian oil and oil products to the EU for 65 billion euros, which should be stopped by the beginning of 2023, the publication emphasizes.

    The eighth package of sanctions against Russia was introduced on October 6. It includes the introduction of a price ceiling for Russian oil and personal restrictions against individuals and legal entities.

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