European Union estimates the value of trade with Russia included by the new sanctions at 123 billion euros

Moscow, (ST) – According to European Commission data, Brussels estimates the value of trade exchanges with Russia included in  the 8th package of European sanctions at about 123 billion euros.

The Russian RIA Novosti news agency quoted European Commission documents as saying that this volume is equal to about 40 percent of bilateral trade between Russia and the EU countries in 2021.

The documents indicated that this figure includes the volume of commercial transactions between European countries and Moscow,  transactions that now have  become impossible due to the sanctions.

According to the document, the new sanctions imposed within the eighth package will affect Russian exports to the European Union at a value of 7 billion euros, while the total volume of Russian exports subject to sanctions will amount to about 90 billion euros.

The European Commission added in its documents that the value of the services prohibited under the sanctions amounted to 3 billion euros.

Raghda Sawas