According to the English section of webangah News agency, citing Mehr News Agency and TASS, Alexander Grushko, Russia’s Deputy Foreign Minister, estimated the losses incurred by the European Union due to stopping trade and canceling energy cooperation with Russia at over one trillion euros.
in an interview with Moscow’s Izvestia newspaper, Grushko said: “There are various estimates. If we consider major exports, the total loss for the EU from terminating energy cooperation and restricting trade with Russia amounts to more then one trillion dollars. In 2013, our trade volume was 417 billion euros; last year it was 60 billion euros. Now it is practically close to zero. This translates into a clear loss.”
He added that natural gas prices in Europe are now four or five times higher than in the United States, while electricity costs two or three times more. This is the price Europe pays for limiting all economic contacts and relations with Russia.
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