Russia's trade with EU could drop to zero

Russia's trade with the European Union could decline to zero, Russian Deputy Foreign Minister Alexander Grushko said.

This year, the volume is expected to reach only around $40 bln, compared to $417 bln at its peak.

"If in 2013, our trade turnover with the European Union reached $417 bln in the best years, last year it was $60 bln, and this year it will be about $40 bln. It is entirely possible that it could drop to zero," Grushko said.

The diplomat also noted that the EU has adopted its 18th package of anti-Russian sanctions and intends to fully abandon Russian energy resources, including oil and gas.

"If we characterize our relations with the historical West, today Russia is facing a real hybrid war involving all forms of pressure - including economic coercion," Grushko said.