The damage the European Union could incur from the sanctions imposed on Russia could reach about 40 billion euro in 2014 and 50 billion euro in 2015, and the level of Russia's losses is likely to be comparable, Russian Deputy Foreign Minister Alexei Meshkov said.
"As concerns the European Union's estimate of its own losses, they could amount to some 40 billion euro this year, and this sum could grow to 50 billion euro next year. I haven't seen our estimates so far, but the figures should be comparable," Meshkov said in an interview with Interfax.
Trade turnover between Russia and the EU has declined over the first nine months of 2014 "by 2 to 3 percent, according to various estimates, and with some countries these figures have reached tens of percents," he said.
"The EU countries are shooting themselves in the foot," as each day of the sanctions is reducing the number of jobs, lowering GDP, and increasing unemployment among young people in EU countries, he said.
"The sanctions are in this case more destructive for the European economy than for Russia, as the products that have fallen under the sanctions are products that were exported from the EU to Russia," he said.
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