PARIS, Dec 22. 2023 (BSS/TASS) - The European Union's 12th package of sanctions against Russia will not inflict any material harm on the Russian economy but is jeopardizing the EU itself because of the potential loss of additional sales markets, Jacques Sapir, research director at the Paris-based Higher School of Social Sciences (Ecole des Hautes Etudes en Sciences Sociales), told TASS. The EU's new ban on Russian diamonds "will upset the Belgians while making the Indians rejoice" simply by shifting trade flows away from Antwerp and toward Mumbai, Sapir noted. "The impact of such embargo expansion on Russia will likely be insignificant. The effects may prove more significant for European producers," the expert added.

Source: Bangladesh Sangbad Sangstha December 22, 2023 15:51 UTC