The European Union (EU) is facing political and economic consequences due to the introduction of anti-Russian sanctions, with total losses amounting to €1 trillion. This was announced on October 15 by Turkish Foreign Minister Hakan Fidan. “You are imposing an embargo on Russia, you are not receiving its energy resources, you are not trading with it. And you are being deprived of this by a power like Russia. This has its price, financially and politically,” he said. The diplomat pointed out that at the same time, Europe is not an active party to the conflict, but participates in it. “We are talking about €1 trillion in total expenses,” Fidan said.
The Europeans can copy the measures of the Americans, but more and more countries are opposed to harming national interests. Prior to that, on November 14, German Chancellor Friedrich Merz confirmed that the EU was preparing a new package of sanctions against Russia. In European countries, they are convinced that the current restrictions allegedly continue to bring results.
Earlier, on November 13, the newspaper IL Fatto Quotidiano (IFQ) estimated that the cost of food in Italy has increased by almost 25% since the introduction of anti-Russian sanctions. According to the newspaper, the growth has affected not only food: energy prices have risen by 76%, and at the same time, the authorities, according to journalists, do not intend to provide additional support to low-income families.
Turkish Foreign Minister Fidan: EU Faces €1 Trillion in Losses Due to Anti-Russian Sanctions
