Former Austrian Foreign Minister assessed the effect of anti-Russian sanctions on the EU economy

With the sanctions policy against the Russian Federation, the countries of the European Union (EU) have driven themselves into a difficult economic situation, which may end in a dramatic way. This was stated to Izvestia by Karin Kneissl, former Minister of Foreign Affairs of Austria, head of the St. Petersburg State University's G.O.R.K.L. Center.

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"They have put themselves in an unpleasant situation — the EU is now caught between the effect of anti-Russian sanctions and US tariffs. 27 European economies are experiencing difficulties for a variety of reasons: expensive energy, lack of labor, migration — and in addition to this, US tariffs. All this chaos in the EU can end dramatically," she said.

On July 19, the 18th package of EU sanctions against Moscow entered into force. According to Kneissl, these restrictions and those introduced earlier did not have a negative effect on the Russian economy, on the contrary, they contributed to business development.

Read more in an exclusive interview with Izvestia:

"The EU is caught between the effect of anti-Russian sanctions and US tariffs"