European companies lost 250 billion euros due to sanctions against Russia

Russian Foreign Minister Sergei Lavrov said this Sunday that European companies have lost 250 billion euros over the past year and a half due to Western sanctions against Russia.

“Over the past year and a half, according to very conservative estimates, European companies have lost up to 250 billion euros due to unilateral Western sanctions, this is a significant amount,” the minister said at a meeting with ambassadors accredited in Moscow about the war in Russia. Ukraine, quoted by the official TASS news agency.

Lavrov said sanctions imposed on Russia following the February 2022 invasion of Ukraine would not go away for the foreseeable future.

“The West has decided to destroy the world economy to teach Russia a lesson, rather than allow Russia to play a role on the international stage that is consistent with its history, its size and its capabilities,” he said.

“We fully understand that the sanctions imposed against us in the foreseeable future and even in the distant future will not disappear,” their authors say,” adding that Russia is creating trade mechanisms that are “not controlled” by the West and that it intends to count on “ only for yourself” in critical sectors of the economy.

Lavrov confirmed that the process of “dedollarization” will gain more and more momentum in the world.

“There is a gradual and constant decline in the share of the dollar and the euro. […]. “De-dollarization” processes will gain more and more momentum,” he said.

The head of Russian diplomacy emphasized that the process of “transition to national currencies involves the largest economies,” such as China, India, Turkey, the UAE, Brazil, Saudi Arabia, Argentina, Kenya and Egypt.

Lavrov further argued that the United States was “bankrupting its European vassals” by forcing them to abandon everything Russian, including gas, “while continuing to buy uranium and critical materials from Russia.”

JSD //APN

Lusa/The End