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Russia's Deputy Prime Minister: Sanctions Will Harm Europe, not Russia

04.09.2017 17:57

The United States sanctions against Russia will ultimately have more impact on Europe than on Moscow, Arkady Dvorkovich, Russia's deputy prime minister, said.

"My assessment is that US sanctions eventually bring more harm to Europe than to Russia, also as a result of our counter-sanctions that create burden costs for the European economy", Dvorkovich stressed.

He added that Russian government isn't happy about it but Moscow had to react and Europe is suffering from that. According to him, Kremlin must defend Russian economic interests'.

Meanwhile, economists claim that though Europe has been at the forefront of imposing sanctions on Russia, mainly because of the Ukrainian conflict, certain officials have become nervous about the recent decision from the United States. This is because they could potentially hurt the energy security of certain countries. A key energy project is Nord Stream 2, a gas pipeline meant to transport gas from Russia to Germany crossing the Baltic nations.

In particular, speaking in August after President Donald Trump signed in the new measures against Russia, Jean-Claude Juncker, the European Commission president, said the bloc would be ready to take counter measures if the penalties harmed European companies.