Russia Estimated the Damage from Sanctions at $ 6.3 Billion a Year
OREANDA-NEWS Restrictive measures imposed against Russian goods abroad caused damage to the Russian economy of $6.3 billion (expert assessment). This is stated in the materials of the Ministry of Economic Development on the work to remove barriers in foreign markets, published on the Agency's website.
From the presentation prepared by the Ministry it follows that the leader in the number of restrictions imposed on Russian goods was the European Union (25), in second place — Ukraine (22), followed by India (16), Belarus (13), Turkey (12) and the United States (9).
However, the estimated damage to the Russian economy distribution of countries turned out different: in the first place — the EU ($2.4 billion), the second — the US ($1.1 billion), the third — Ukraine ($775 million). They are followed by Turkey ($713 million), India ($377 million), Iran ($320 million) and China ($174 million).
Despite the fact that Belarus, according to the Ministry of Economy, introduced a relatively large number of restrictive measures against Russian goods, the estimated damage from them amounted to only $42 million.
The greatest losses from protective measures incurred by the metallurgical sector, almost $4 billion, in the second place, the agricultural industry is $1.1 billion, and the third is the chemical industry, which suffered losses in the amount of $640 million.
At the same time, the Ministry reported on some successes: it managed to remove barriers worth about $330 million. "In 2018, the Ministry of Economic Development managed to eliminate and liberalize 32 trade restrictions (including the threat of their introduction), which have a negative impact on the access of Russian goods to foreign markets. According to expert estimates, the damage from their actions exceeded 330 million dollars. in a year, " the press service of the Ministry said.
In total, 159 restrictive measures were introduced against Russian goods in 62 countries.