Russian economy suffers $55 bln losses over 3 years of EU sanctions

GENEVA, Sep 13 (PRIME) -- Sanctions against Russia cost the E.U. economy U.S. $3.2 billion per month, while the Russian economy suffered a total of $55 billion losses over three years of sanctions, UN human rights expert Idriss Jazairy said in a report Wednesday after a visit to Russia.

Relations between Russia and the West worsened in 2014 due to a military conflict in Ukraine. The West introduced sanctions against some Russian individuals and firms and against the oil, gas, and banking industries. In response, Russia limited food imports from some countries, including the U.S., the E.U., Canada, Australia, and Norway.

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