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Russian losses due to international sanctions stand at EUR 98 billion, experts say.
Three stages of sanctions imposed by the international community against Russia for its participation in the Donbas conflict were a serious blow to the Russian economy, Ukrainian news broadcaster TSN reported.
Among the countries that have imposed their sanctions in an effort to counter an aggressor state are the United States, Canada, Japan, Norway, Switzerland, Australia, New Zealand, the EU member states, and China. They have been joined by the majority of financial institutions that refuse to carry out transactions with Russian banks.
Russian losses due to international sanctions are estimated at EUR 98 billion: EUR 23 billion incurred in 2014 and EUR 75 billion - in 2015.
The capitalization of Russian stock market is reported to have declined from $766 billion to $498 billion during the period while the international restrictions remain in force. The Russian ruble has lost half of its value against the dollar.
On March 6, 2014 the EU decided to suspend bilateral talks with Russia on visa matters. In addition, Russia was formally expelled from the so-called G8 international club.
On March 17, 2014 a number of Russian politicians and officials were banned from entering the countries, which had imposed the sanctions. In addition, certain restrictions were imposed against Russian state-owned companies.
On July 16, 2014 the sanctions policy affected key sectors of the Russian economy: oil and gas companies, companies manufacturing military and automotive equipment, etc.
As UNIAN reported earlier, on September 2, the European Union decided to extend for another six months the sanctions against Russian companies and individuals that undermine the territorial integrity and sovereignty of Ukraine.