Aletho News

ΑΛΗΘΩΣ

EU lost billions over Russia bans: Spain

Press TV – February 9, 2015

Spain has warned that the European Union has lost billions of euros as a result of the sanctions the bloc has imposed against Russia over Moscow’s alleged role in Ukraine’s crisis.

“Sanctions have had a heavy cost for us all,” Spanish Foreign Minister Jose Manuel Garcia-Margallo said in Brussels on Monday.

Spain’s top diplomat added that “the EU has so far lost 21 billion euros ($23.7 billion). In Spain we have been badly hit in terms of agriculture and tourism.”

The figure represented the first account of the monetary loss caused to the EU due to the tough economic sanctions it has been progressively imposing on Russia since July 2014.

On Sunday, nearly 200 farmers went on strike in Spain and abandoned their products in the middle of a road in Catalonia to protest against Western-imposed sanctions against Russia. The farmers dumped their citrus fruits on the road to express their anger at the European Union for its ban on fruit exports to Russia.

The Western powers have been accusing Moscow of playing a role in the deadly crisis in eastern Ukraine, which erupted when Kiev launched military operations in April last year to silence pro-Russia protests. The Kremlin denies the accusation.

Russia has, in return, imposed a full year-long ban of European Union, US, Australian, Canadian, and Norwegian food exports to the country.

Amid fear on the part of some EU members for their trade ties with Moscow, the bloc has agreed to postpone new sanctions against Russia to give time to see if a four-way Ukraine peace summit on February 11 makes progress.

French Foreign Minister Laurent Fabius said, “The principle of the sanctions will be kept, but their implementation will depend on the situation on the ground.”

He was referring to a January 29 decision by the foreign ministers of the 28-nation union to add 19 people, including five Russians, to a list of those facing travel bans and asset freezes after an upsurge in fighting in eastern Ukraine.

“We will assess the situation again next Monday,” said the French top diplomat.

February 9, 2015 - Posted by | Economics | , , ,

1 Comment »

  1. Reblogged this on TheFlippinTruth.

    Like

    Comment by joekano76 | February 9, 2015 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.