"The international sanctions imposed after Russia's full-scale invasion of Ukraine have resulted in hundreds of billions in losses from export markets and assets frozen by Western banks."
"Latvia's analysts noted that Russian institutions are forecasting further losses, despite public claims of successful economic adaptation to Western sanctions."
"SAB assesses these estimates to be an undercount; the losses are likely much higher, as they do not account for the entire economic spectrum."
"A separate internal Russian forecast projected energy sector losses at $216.5 billion over the next five years due to ongoing sanctions."
Latvia's Constitution Protection Bureau estimates Russia has spent an additional $130 billion on Western goods from 2022 to 2025, translating to an annual loss of $32.5 billion. This figure only accounts for imports and excludes cases where substitutes were unavailable. The report indicates that Russia's economy is facing significant losses from sanctions, with forecasts predicting an additional $136 billion loss in foreign trade by 2030. Analysts believe the actual losses are likely much higher, not accounting for reduced tax revenues or inflated consumer prices.
Read at www.businessinsider.com
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