Very stupid EU leaders. New study shows sanctions against Russia will cost Europeans 2.5 million jobs

Who cares about EU jobs when you can prop up a neo-nazi putsch government in Ukraine upon the orders of the United States States of America.

EU leaders know full well how zombified their citizens have become, incapable of using logic and fact to question the ridiculous Washington PR narrative around the Ukraine coup and subsequent civil war in the East.

We should not be too surprised, this is the EU that decided to bomb stable and prosperous Libya only to whine years later about the unfair influx of Libyan refugees looking to escape to Europe amidst the chaos unleashed by Europe.

RT Reports…

The EU imposed the sanctions against Russia over the Ukrainian political crisis, targeting access to foreign credits and oil and gas industry. Moscow responded with countersanctions that hit European food producers. The toll the conflict takes on the EU economy is higher than Brussels initially anticipated, according to a new study by the Austrian Institute of Economic Research (WIFO).

“Our hypothesis, from last autumn, of a worsening decline in exports has become a reality,” said Oliver Fritz, one of the authors of the study, the Tribune de Genève reported.

WIFO calculated that if the sanctions are continued for the next few years, Germany would lose 465,000 jobs due to reductions of exports to Russia. Italy would lose 215,000 jobs, Spain 160,000 jobs, France 145,000 jobs and the UK 110,000 jobs.

Switzerland, which is not part of the EU but followed Brussels’ lead on sanctions, would see 45,000 jobs lost, including 5,000 in the tourism sector, the study said.

The WIFO study was commissioned by newspapers in the Leading European Newspaper Alliance (LENA). Swiss Tribune de Genève, French Le Figaro, Spanish El Pais and German Die Welt were involved in reporting the findings.

Latvia and the other Baltic states are countries that have been most hit by the sanctions, Riga Mayor Nils Usakovs told Russian Dozhd TV.

“We are paying one of the highest prices for those sanctions which were imposed on Russia and its retaliatory embargo,” he said.

When the Russian ruble started dropping, it became “very difficult to sell anything to Russia,” said Usakovs, adding that Latvia “lost a significant number of tourists.”

The sanctions policy of the European Union was criticized on Friday by Giorgos Tsipras, who heads the Greek Foreign Ministry’s economic relations department.

“The whole politics of sanctions are unproductive, they’re counterproductive, and the new Greek government from the beginning had said that it does not agree with the continuance of the sanctions,” he told the Sputnik news agency.

“Sanctions are a new problem in the heart of Europe, the Ukrainian crisis is a very new problem of destabilization in the heart of Europe and this has to stop,” he added, speaking on the sidelines of the St. Petersburg International Economic Forum.

Other European countries like Austria and Hungary previously voiced their displeasure with the sanctions, complaining of their inefficiency and high cost for their national economies.


Help us grow. Support The Duran on Patreon!


The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.

What do you think?

Notify of
Newest Most Voted
Inline Feedbacks
View all comments

How many war criminals does it take to govern a country? Ask Ukraine. Tony Blair invited to join putsch government

Brilliant comments on Zerohedge sum up the pathetic and desperate EU attempt to freeze Russian assets