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Sanctions Cost Russia $6.3bn in 2018

20 Feb 2019

• 20 Feb 08:15

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The cost of economic sanctions and other trade restrictions imposed by other countries cost Russia $6.3 billion by late 2018, estimates of the Economic Development Ministry presented on Tuesday reveal, according toGazeta.ru. These restrictions include anti-dumping duties, licensing, quotas, technical barriers, sanitary and phytosanitary measures and also economic sanctions. Measures imposed by the European Union hurt Russia’s economy the most, the data reveals. The total damage is estimated at $2.4 billion. U.S. sanctions cost Russia nearly $1.17 billion, while losses from Ukraine’s restrictions amounted to $775 million, the ministry said in. Read more...