So far, European Union has lost 21 BILLION Euro due to sanctions on Russia
26 replies, posted
[quote]Europe has suffered 21 billion euros in lost exports as a result of sanctions against Russia over Ukraine, Spain's foreign minister said today as he met his counterparts to discuss further measures.
"Sanctions have had a heavy cost for us all, 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," said Jose Manuel Garcia-Margallo, giving the first figure of its kind for the EU.
The European Union has become increasingly divided over the tough economic sanctions that it has progressively imposed on Russia since July, with some member states fearing for their trade ties with Moscow.[/quote]
[url=http://www.ndtv.com/world-news/russia-sanctions-have-cost-eu-21-billion-euros-spain-738190]Source[/url]
[url=http://www.telegraph.co.uk/news/worldnews/europe/ukraine/11400450/EU-delays-fresh-Russia-sanctions-ahead-of-Ukraine-talks.html]Source 2[/url]
So much for trying to oppose lone equivalent of USA.
[url]http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/[/url]
Russia are getting the worse end of the stick.
[QUOTE=Flapadar;47105723][url]http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/[/url]
Russia are getting the worse end of the stick.[/QUOTE]
Hah, wow, even better.
On the other hand, oil price drop was a really circumstantial major hit, not the sanctions.
[QUOTE=Flapadar;47105723][url]http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/[/url]
Russia are getting the worse end of the stick.[/QUOTE]
Sanctions aren't changing Putin's mind. What is plan B?
[QUOTE=Flapadar;47105723][url]http://money.cnn.com/2014/11/24/news/economy/russia-losing-140-billion-oil-sanctions/[/url]
Russia are getting the worse end of the stick.[/QUOTE]
That's about 123.5 billion Euros, close to 6 times as much as Europe is losing.
[QUOTE=Dark RaveN;47105711][url=http://www.ndtv.com/world-news/russia-sanctions-have-cost-eu-21-billion-euros-spain-738190]Source[/url]
[url=http://www.telegraph.co.uk/news/worldnews/europe/ukraine/11400450/EU-delays-fresh-Russia-sanctions-ahead-of-Ukraine-talks.html]Source 2[/url]
So much for trying to oppose lone equivalent of USA.[/QUOTE]
"lone equivalent of the USA"? What is this supposed to mean? Economic equivalent? Russia's GDP sucks dick, and the EU is a larger economy than the US. This is about 0.15% of the European economy (assuming it's per year).
€21b is nothing to scoff at, but why are you acting like the EU is going to buckle under this immense economic pressure?
[QUOTE=isreal?;47105745]Sanctions aren't changing Putin's mind. What is plan B?[/QUOTE]
a whole big pile of economic sanctions
[QUOTE=asteroidrules;47105749]That's about 123.5 billion Euros, close to 6 times as much as Europe is losing.[/QUOTE]
And the Russian economy is about a 7th of the European one.
[QUOTE=GoDong-DK;47105753]"lone equivalent of the USA"? What is this supposed to mean? Economic equivalent? Russia's GDP sucks dick, and the EU is a larger economy than the US. This is about 0.15% of the European economy (assuming it's per year).
€21b is nothing to scoff at, but why are you acting like the EU is going to buckle under this immense economic pressure?[/QUOTE]
better question is why do you think russia is going to buckle under this immense economic pressure
literally nothing will happen and ukraine will still be a smoldering mess two years from now when all is said and done and everybody decides to move on because the end result is not worth it
Ok we have established that Russia is losing more from sanctions, but the real question is, if Russia were to invade right the fuck now who would win Ukraine?
[QUOTE=GoDong-DK;47105753]"lone equivalent of the USA"? What is this supposed to mean? Economic equivalent? Russia's GDP sucks dick, and the EU is a larger economy than the US. This is about 0.15% of the European economy (assuming it's per year).
€21b is nothing to scoff at, but why are you acting like the EU is going to buckle under this immense economic pressure?[/QUOTE]
oil and gas only accounts [url=http://en.wikipedia.org/wiki/Economy_of_Russia]for 16% of russia's gdp[/url], plus, as mentioned further in the article, russia's economic growth still remained positive despite these spooky scary sanctions. it's not going to get worse, it's going to steadily return to normal.
unless the entire world decides to sanction russia's high-tech arms produce, metal, gold and rare material resources at the same time, russia can easily afford the temporary economic losses.
you can't sanction the worlds 7th largest economy the same way you sanction some shitty backwater north african country and expect it to buckle under the pressure as if 95% of all money in russia is oil-money.
[QUOTE=isreal?;47105776]Ok we have established that Russia is losing more from sanctions, but the real question is, if Russia were to invade right the fuck now who would win Ukraine?[/QUOTE]
Russia, but why is this relevant
Giving Russia the finger is worth every penny.
This is 0.131% of the US national debt, for some perspective. In the grand scheme of things, 21 billion really isn't that much sadly.
[QUOTE=Scotchair;47105843]This is 0.131% of the US national debt, for some perspective. In the grand scheme of things, 21 billion really isn't that much sadly.[/QUOTE]
National debt really doesn't "count"
You may rate me funny Kari but seriously National Debt is a different metric
Russia's economy is smaller than Europe's. Russia is hurting more from these sanctions than Europe. Someone [b]will[/b] have to blink first, and logic states that it will be Russia - it is just a case of how much Putin is prepared to fuck up Russia's economy before he stops acting like the big bully.
[QUOTE=Melnek;47105815]oil and gas only accounts [url=http://en.wikipedia.org/wiki/Economy_of_Russia]for 16% of russia's gdp[/url], plus, as mentioned further in the article, russia's economic growth still remained positive despite these spooky scary sanctions. it's not going to get worse, it's going to steadily return to normal.
[/QUOTE]
That's not really true. Last November during an interview Putin said that he's expecting a growth of 0.5 or 0.6 percent for the current year, and for the follow years 1.2, 2.3, and 3. However, the IMF expects a growth of 0,2 for 2014, followed by 0.5, 0.3, and 0.4. Russia's own central bank expects a growth of 0.3 for 2014 and a stagnation for 2015.
edit: Also "only 16%" is pretty optimistic when oil is their top export.
[QUOTE=Zambies!;47105958]National debt really doesn't "count"
You may rate me funny Kari but seriously National Debt is a different metric[/QUOTE]
I know they're different, but this "loss" could also be seen as an addition to national debt (assuming we have to make up the cost of said loss from elsewhere)... and I'm just pointing out that 21 billion is pretty much fuck all in terms of global economy.
[QUOTE=Melnek;47105770]better question is why do you think russia is going to buckle under this immense economic pressure
literally nothing will happen and ukraine will still be a smoldering mess two years from now when all is said and done and everybody decides to move on because the end result is not worth it[/QUOTE]
Where did I say Russia would back out? It's clear to me that Russia don't really care about sanctions. Does that mean we should drop them? No, I think we should keep them up as long as they're fucking around in Ukraine, but that's simply my sense of justice talking.
I don't understand how people like you can be so indifferent to stuff like this, but fair enough, to each his own.
[QUOTE=Melnek;47105770]better question is why do you think russia is going to buckle under this immense economic pressure
literally nothing will happen and ukraine will still be a smoldering mess two years from now when all is said and done and everybody decides to move on because the end result is not worth it[/QUOTE]
funny, but this guy right here is right.
[editline]9th February 2015[/editline]
[QUOTE=GoDong-DK;47105753]"lone equivalent of the USA"? [/QUOTE]
equivalent of an influent superpower
It's delusional to think the contrary.
21B vs ~150B that russia's loosing, i'd say its working...
also remember russia imposed sanctions of their own in response to the light sanctions, the things like food import sanctions are Russian not european
[editline]9th February 2015[/editline]
[QUOTE=Melnek;47105815]oil and gas only accounts [url=http://en.wikipedia.org/wiki/Economy_of_Russia]for 16% of russia's gdp[/url], plus, as mentioned further in the article, russia's economic growth still remained positive despite these spooky scary sanctions. it's not going to get worse, it's going to steadily return to normal.
unless the entire world decides to sanction russia's high-tech arms produce, metal, gold and rare material resources at the same time, russia can easily afford the temporary economic losses.
you can't sanction the worlds 7th largest economy the same way you sanction some shitty backwater north african country and expect it to buckle under the pressure as if 95% of all money in russia is oil-money.[/QUOTE]
[url]http://atlas.media.mit.edu/profile/country/rus/[/url]
crude alone accounts for 40% of their exports, with refined and various other fossil fuels accounting for a further 25%
so ya oil and gas are russia's main exports, additionally ukrainian exports were one of the largest imports for russia, ontop of that, the netherlands were the largest importer or russian goods, so they've littearlly pissesd off everybody that imports their goods
[QUOTE=demoguy08;47105822]Giving Russia the finger is worth every penny.[/QUOTE]
... unless it's your penny.
That's a whooping 0.147% of the EU's economy
When was it stated the sanctions were to make Russia give back Ukraine? I don't think they're even admitting involvement, so more then that is pretty much unthinkable.
Sanctions are just a way of telling Russia their actions are intolerable. They crossed a line- other countries are not happy. I would think people would be happy with a response other then just the standard ~let's start a war~ that would typically follow this type of invasion but meh/ can't make everyone happy.
[QUOTE=Dark RaveN;47106785]funny, but this guy right here is right.
[editline]9th February 2015[/editline]
equivalent of an influent superpower
It's delusional to think the contrary.[/QUOTE]
Hahahaha
Dude
Seriously?
Do you think, nowadays, Russia can match the US power?
You are the delusional guys. That Bear vs Eagle showdown ended back in the 80's. The Russian Federation is a shell of what the USSR used to be.
To put in perspective,
[url]http://techcrunch.com/2015/01/27/apple-q1-2015/[/url]
Apple made $18 billion USD Profit = 16 billion EUR in the last 3 months.
$75 Billion of revenue USD = 66 billion EUR revenue...
$21 billion for the EU is nearly nothing...
[QUOTE=Cutthecrap;47107652]Hahahaha
Dude
Seriously?
Do you think, nowadays, Russia can match the US power?
You are the delusional guys. That Bear vs Eagle showdown ended back in the 80's. The Russian Federation is a shell of what the USSR used to be.[/QUOTE]
See? Delusional.
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