EU pays price of Rus­sia sanc­tions

The Star Early Edition - - WORLD -

MOSCOW: Anti-Rus­sia sanc­tions and coun­ter­mea­sures in­tro­duced by Moscow re­sulted in the loss of 397 000 jobs and 17.6 bil­lion in the EU in 2015, Aus­trian me­dia re­ported.

Ger­many, Rus­sia’s largest trade part­ner in Europe, lost 97 000 jobs, Poland faced a 78 000-job loss, whereas Aus­tria, with its loss of 7 000 jobs, was rel­a­tively mildly af­fected, Der Stan­dard news­pa­per re­ported, cit­ing a pa­per by the Aus­trian In­sti­tute of Eco­nomic Re­search.

Ger­many also suf­fered the big­gest fi­nan­cial loss, es­ti­mated at 6.05bn, with France com­ing in sec­ond with a 1.6bn loss.

Brus­sels, Wash­ing­ton and their al­lies in­tro­duced anti-Rus­sia sanc­tions since Crimea be­came part of Rus­sia in 2014 and over Moscow’s al­leged in­volve­ment in the Ukrainian con­flict. – Sput­nik

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