EU RISKS €40BN HEMORRHAGE FROM RUSSIA SANCTIONS IN 2014 – FOREIGN MINISTER (STA BREAKING NEWS and ARCHIVES)

by STANews , Tuesday, October 14, 2014, 10:17

Economies across the European Union will lose about €40 billion this year, with the damage estimated to widen to €50 billion in 2015, Russia’s Foreign Minister Sergey Lavrov said, citing figures from the EU itself.

There are so far no exact figures for the damage incurred, but the European Union has made some preliminary estimates and said the damage could be as high as €40 billion this year, Sergey Lavrov said.

The Foreign Minister was addressing a group of business leaders at the Association of European Businesses (AEB), a Moscow-based lobby group that represents the interests of more than 600 European companies in Russia.

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http://rt.com/business/195772-eu-russia-sanctions-losses/