Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Switzerland Remains Neutral in Sanctions War
20.08.2014 15:05
Switzerland Remains Neutral in Sanctions War
Photo Credit: http://www.jettravel.ru

Switzerland has rejected pleas from other European countries hit by the Russian food embargo to export their products via its territory in the latest twist of the sanctions war, says The Wall Street Journal.

      Earlier, Switzerland announced it will not help Russia to bypass the EU’s restrictions, either.

      The appeal comes after the Russian government introduced a food ban from the countries that issued sanctions against Moscow over its alleged role in the Ukraine crisis.

      There’ve been many projections of the economic effect of the sanctions. Some said they will hurt the Russian economy by €23 billion this year (1.5 percent of its GDP) and €75 billion in 2015 (4.8 percent of its GDP).

      According to The Economist, the pain Russian firms will suffer from these sanctions could go up to one trillion US dollars (€744bn).

      But one thing is certain – the EU will also be hurt by the capital markets restrictions and trade bans for defense, high technology and goods that can be used both for military and defense purposes.

      There’s been a lot of concern from southern member states, including Greece and Italy, where fragile economic growth could give way to recession.

      In Germany, the Committee on Eastern European Economic Relations, a powerful lobby group, said about 350,000 German jobs are under threat.

       




Author: Mikhail Vesely

Tags: Russian economy Russian sanctions EU sanctions US sanctions Ukraine crisis 

Next Previous


You might also find interesting:

World Cup 2018 has been the Best for the Entire Tournament History
21.07.2018
Students of HSE Took Part in SPIEF
09.06.2018
Russia will Open 50 National Offices in 29 Countries of the World in 2018
28.05.2018
SPIEF 2018: Digitalization an Engine for Growth and Inclusive Development
24.05.2018
SPIEF 2018: Future Labour Markets
24.05.2018







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
banned products  Russian ballet  Kremlin  Russia-USA  Russian tourism  Festivals in Moscow  foreign tourism in Russia  satellite  Cryptocurrency  Powerhouse Museum  spring  Book Tickets for Ballet  Cosmoscow Art Festival  Order of the Rising Sun  Festivals  Cars  Khabarovsk  Russian Cinema  Ukraine crisis  Crimea  Oil Extraction  Bell Ringins  Central Bank  Alessandro Papetti  Domodedovo  Russian social networks  State Duma  Russian Museum of Ethnography  Novocheboksarsk  New Museums  Russian Literature  Theaters of Russia  Exhibitions in Moscow  Russian spotswomen  Pyotr Mamonov  Russian festivals  Mercedes-Benz Fashion Week Russia  Moscow Theatres  St. Petersburg  Mtsensk  Moscow  Russian history  Kolomenskoye  Natalia Goncharova  Vandalism  Linguists  Russian business  budget airline   award  animation 


Travel Blogs
Top Traveling Sites