Sanctions having serious impact on Russian economy - Dombrovskis

Published date09 May 2022
Publication titleLETA

RIGA, May 9 (LETA) - Sanctions on Russia are affecting a very broad range of spheres and their impact on the Russian economy is serious, European Commission Executive Vice President Valdis Dombrovskis said in a discussion dedicated to the day for the commemoration of Ukraine's war victims.

The EU commissioner indicated that a number of Russian industries are already facing substantial problems. The European Union's (EU) sanctions on Russia involve extensive export control, preventing exports of high technologies and dual-use goods to Russia. Export control is being implemented not only by the EU but also the US. Sizable sanctions have also been imposed in transport.

The Russian financial sector is subject to sweeping sanctions, banning any transactions with the Russian central bank. The sixth sanctions package will include a disconnection of Russia's largest and systemically most...

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