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Information publication Export from the EU to Russia because of sanctions decreased by € 30 billion
October 09 2017

Export from the EU to Russia because of sanctions decreased by € 30 billion

  
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Export from the EU to Russia because of sanctions decreased by € 30 billion

Mutual sanctions of the EU and the Russian Federation have led to a significant reduction in the exports of European companies. This is stated in the report of the Austrian Institute of Economic Research (WIFO), which is published on the organization's website
"According to WIFO estimates, exports from the EU to Russia because of sanctions decreased by 10,7% in 2014-2016, which is about € 30 billion," the report said. In percentage terms, the largest losses were suffered by Cypriot companies - minus 34,5%, Greek - 23,2%, and Croatian - minus 21%.
Exports from Germany declined due to sanctions for the reporting period by 13,4%, which is € 11,1 billion. For € 3 billion lost Polish and British enterprises.
In general, exports were also declining under the influence of other factors, for example, the economic downturn in the Russian Federation. In general, this indicator decreased from € 120 billion in 2013 to € 72 billion in 2016, according to the report.
Thus, Russia has fallen one position in the list of key EU trade partners and ranks fifth after the United States, Switzerland, China and Turkey, experts say WIFO.

TASS

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