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Russia to lose $50bn a year due to Western sanctions

International Desk |
Update: 2014-11-24 05:11:00
Russia to lose $50bn a year due to Western sanctions Photo Courtesy: sptimes.ru

DHAKA: Russia is set to lose around US$40 billion per year due to Western sanctions over Ukraine.

Russia finance minister Anton Siluanov said Monday.

‘We are losing around US$40 billion per year due to geopolitical sanctions and we are losing some US$90 to US$100 billion per year due to oil prices falling 30 percent,’ Siluanov said in a speech at an economic forum in Moscow.

RIA Novosti news agency quoted the minister, reports The Straits Times.

BDST: 1610 HRS, NOV 24, 2014

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