Aleksashenko: The extension of sanctions will cost Russia five percent of GDP

The extension of sanctions by the European Union will cost Russia about 5 percent of GDP in 2015. This opinion was expressed by the ex-and-in-law of the bank of the Bank of Russia Sergey Aleksashenko, RIA Novosti reports.

“There will be an influence because the EU sanctions mean that Russian banks and companies will not be able to attract financing in European capital markets and will have to pay external debt at the expense of domestic resources. According to my assessment, this year you need to pay about 5 percent of GDP. Accordingly, this is the price that the Russian economy will pay,” Aleksashenko said.

He noted that these funds could be directed to other goals, but now "he will have to pay on external debt." The former deputy chairman of the Central Bank is convinced that in the short term, the oil and gas sector and defense industry will be least affected by sanctions. According to Aleksashenko, European sanctions against these sectors are aimed at the long term. On Monday, the Foreign Minister of the European Union countries extended the effect of sanctions against Russia for six months, until January 31, 2016. This was announced on Twitter by the press secretary of the Council of Foreign Ministers of the EU Zuzanne Kififer. As the official explained, such a decision was made for the complete embodiment of the Minsk agreements.

The extension of the sanctions was the expected step that was planned in advance. Initially, this was supposed to be done at the EU summit on June 25-26, but then the decision was made to the Foreign Minister . On June 17, the renewal of sanctions approved the Committee of the Permanent Representatives of the EU members .

The sectoral sanctions of the European Union, adopted due to aggression of Russia in Ukraine, came into force on August 1, 2014 . They were introduced for a period of 1 year.

Meanwhile, on June 13, it became known that the United States and the EU prepared additional sanctions against Russia. According to diplomats, measures will be taken "quite quickly" in case of exacerbation of the situation in Ukraine. We are talking about both the expansion of sanctions lists, and about sectoral measures regarding the financial, energy and defense sectors of Russia.

The discussion of additional sanctions began in connection with the offensive undertaken by pro -Russian militants in the Maryinki area . However, the clashes ended before the sanctions were introduced. The resumption of battles will serve as a "trigger" for new measures.

“It can be any major offensive anywhere along the entire line of contact. We all know what is at stake and we want to have prepared plans that will be involved in the case when it becomes necessary,” said a senior official of the US administration. “There are a number of different options that the leaders will have at their disposal to answer any new Russian aggression quite quickly and energetically. Weeks ".