The Russian Foreign Ministry estimated the EU's losses in the energy sector due to the break with the Russian Federation

The losses of the European Union (EU) from the termination of energy cooperation and the curtailment of trade with the Russian Federation exceeded €1 trillion, Russian Deputy Foreign Minister Alexander Grushko told Izvestia.

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"There are different estimates. If we talk about most experts, then the total is already more than a trillion euros, if we keep in mind the losses from the termination of energy cooperation with Russia, from the curtailment of trade. In 2013, we had €417 billion in trade, in the past — €60 billion, now it tends to virtually zero. This is a lost profit," Alexander Grushko told Izvestia.

Refusal to cooperate with Russia affects the competitiveness of the EU economy. According to the Russian Deputy Foreign Minister, the cost of natural gas in Europe is four to five times higher than in the United States, and electricity is two to three times more expensive.

Earlier, at a meeting with Belarusian leader Alexander Lukashenko, Russian President Vladimir Putin stressed that the loss of political sovereignty by Brussels leads to the loss of economic sovereignty, and, as a result, to enormous losses.