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EU Member states may lose more than 130,000 jobs due to Russian sanctions
BRUSSELS , August 21 (RIA Novosti) - Russia's recently introduced restrictions on food and agricultural imports from the European Union could result in the loss of more than 130,000 jobs across the 28-member bloc, including 23,000 in Poland and 21,000 in Germany, Belgium's De Standaard newspaper reported, citing a recent study by ING financial group.
Belgium could lose up to 3,000 jobs and 165 million euros ($219 billion).
According to the research, the Baltic states will be hit the hardest, with Lithuania losing 0.4 percent of its GDP, Estonia losing 0.35 percent and Latvia losing 0.2 percent. It also notes that Germany's production loss will total some 1.3 billion euros ($1.7 billion).
As for the United States, Washington's losses will not exceed 11,000 jobs.
At the beginning of August, Russian President Vladimir Putin signed an order on economic measures to protect the country's security, following the West's introduction of several rounds of sanctions against Russia.
The decree went into effect on August 7 and banned for one year the import of agricultural and food products from countries that had imposed sanctions on Russia. The list of banned products includes meat, poultry, fish, seafood, milk, dairy products, fruits and vegetables.
Moscow said earlier it was ready to review the terms of its import restrictions if its Western partners showed a commitment to dialogue
Source: en.ria
Russian Import Restrictions Could Cost Europe 130,000 Jobs - Study
