Europe’s most perceptive politicians have of course already realised that the so-called sanctions against Russia are not working. However, they have yet to work out how to extricate themselves from the trap that they – or their predecessors – set themselves — Vladimir Chizhov, Permanent Representative of the Russian Federation to the European Union.
The ongoing economic war has damaged Russia and the European Union. The European Union’s retaliatory embargo has led to it losing out on the Russian food market, agricultural products, and mutual investments in the high-tech sectors of the economy. During these years, Europe has lost the opportunity to increase its industrial, scientific, and technical developments in Russia — Dimitrios Velanis, Advisor to the Prime Minister of the Hellenic Republic.
Sanctions are not a cause for alarm in terms of their direct consequences, but because they are unpredictable: nobody knows what sanctions will be imposed tomorrow, or indeed whether they will be imposed at all. This causes an environment of uncertainty for Russian businesses working with foreign partners, and also for our foreign partners. In being in place for a sustained amount of time, this environment of uncertainty could lead to partnerships stagnating — Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs (RSPP).