Moscow (AFP) – Russia is set to lose around $40 billion (32 billion euros) per year due to Western sanctions over the Ukraine conflict, Finance Minister Anton Siluanov said Monday.”We are losing around $40 billion per year due to geopolitical sanctions and we are losing some $90 to $100 billion per year due to oil prices falling 30 percent,” Siluanov said in a speech at an economic forum in Moscow, quoted by RIA Novosti news agency.Sanctions imposed by the European Union and the United States on Russia’s economy, which is largely dependent on exports of raw materials, block its access …read more
Source: Business Insider
