According to experts at Centre d`Etudes Prospectives et d'Informations Internationales (CEPII, the French research center on the global economy), during half a year of anti-Russian sanctions those countries, which supported the sanctions against Russian, have received less income from exports in the amount of $60.2 billion. In the analysis they assessed both formal, and informal trade restrictions. The main part of losses (82%) was goods (without the Russian embargo). Deliveries of sanctions goods fell by about 90% since August, 2014, Kommersant reports.
Most of all sanctions influenced German suppliers: every month they lost about $830 million, or 27% of the volume of losses. Ukrainian producers’ lack of profit is amounted to $450 million per month. The situation also negatively affected exporters from Poland, the Netherlands, France and Japan, as their monthly losses are amounted to about $200 million. In addition, the companies whose products were banned also had difficulties in finding alternative supply channels.
The senior fellow at the Center for European Studies IMEMO, Vladimir Olenchenko, said in an interview with a ‘Vestnik Kavkaza’ correspondent the countries that supported the anti-Russian sanctions have suffered a double loss.
"Firstly, they have received less profit. And this is the means that the European Union countries could be used to improve their welfare and the intensification of certain activities. The matter is that in recent years the economy of the EU countries was developing very slowly. They didn’t have enough investments, which are formed on the basis of profits, or savings. And now they have neither one nor the other. In addition, after termination of cooperate with Russia they have lost market of our country. However, the Russian market won’t wait when the states will decide supply products again, as the market is occupied now by anyone else. Therefore if sanctions are lifted European states will have to fight for a place in the Russian market,’’ the expert said.
Director of the Institute of Strategic Planning and Forecasting, Professor Aleksander Gusev said that the report by the French research center on the world economy does not reflect all losses suffered by the economies of the European Union.
"Firstly, we should take into account not only the EU, but also other European countries. There are 29 countries in the European Union and 54 in Europe. Sanction were imposed not only by the European Union countries. For example, Montenegro, is not an EU member. It is a European country and it supported sanctions. Secondly, according to our approximate estimates, European countries, and only just members of the EU, have lost about $150 billion and about 120-150 billion euros of profits," the expert said.
He focused on the fact that a total loss of European countries is amount to 250-300 billion due to the introduction of anti-Russian sanctions.
