RBC: EC estimates damage from new package of sanctions against Russia at €123 billion
After the eighth set of sanctions against Russia, the European Union (EU) will impose trade restrictions worth about €123 billion, according to RBC reports on Tuesday, October 11th, following the examination of the documents issued by the European Commission (EC).
It is noted that the formal sanctions provoke a sharp decline in trade between the EU and Russia – by more than 40% compared to the same figures for 2021.
Thus, the new restrictions affect imports of Russian goods to the EU (in particular, plastics, cosmetics) and exports of European goods to Russia (including electronic chips). There is also a ban on the provision of architectural, engineering, legal and consulting services to clients from Russia.
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