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Disinfo: EU loses 450 billion euros yearly because of the sanctions against Russia adopted under the US diktat

Summary

France like other European countries is waging an economic war against Russia because of the problems of Ukraine. But sooner or later the majority will see that it does nothing, neither for the European Union nor for entrepreneurs. The European Union loses 450 billion euros every year because of anti-Russian measures that have been brought by the Americans in European politics.

Disproof

Recurring pro-Kremlin disinformation narrative about economic difficulties in EU countries resulting from the sanctions policy against Russia. There is a cost associated with sanctions and counter-sanctions that is often overestimated as it can include protectionist measures Russia took even before the war in Ukraine. In this case, the figure is totally unrealistic. For example, a study by Matthieu Crozet (Lingnan University) and Julian Hinz (Kiel Institute for the World Economy) published in Economic Policy in 2018 estimated the total loss of earnings of 1.5 billion euro a month so 18 billion a year: 25 times less. Another study commissioned by the Bank of Finland shows that the "sanctions regime proved effective in restricting access of Russian banks to capital", and that the "macroeconomic effects of Russia’s counter-sanctions on the EU have been marginal, [although] the food sector in some EU countries has been affected." The narrative that the US imposed those sanctions to the EU is another unfounded claim that the US controls the policies of the European Union. All EU countries are independent states whose policies are not regulated externally by any other country.

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publication/media

RT France (Archived)
  • Reported in: Issue 190
  • DATE OF PUBLICATION: 06/03/2020
  • Language/target audience: French
  • Country: Russia, US, France
  • Keywords: Russia Today (RT), Anti-Russian, Sanctions

Disclaimer

Cases in the EUvsDisinfo database focus on messages in the international information space that are identified as providing a partial, distorted, or false depiction of reality and spread key pro-Kremlin messages. This does not necessarily imply, however, that a given outlet is linked to the Kremlin or editorially pro-Kremlin, or that it has intentionally sought to disinform. EUvsDisinfo publications do not represent an official EU position, as the information and opinions expressed are based on media reporting and analysis of the East Stratcom Task Force.

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