Russia to lose some $40 bn a year due to sanctions: minister

November 24, 2014
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Russia is set to lose around $40 billion per year due to Western sanctions over Ukraine, Finance Minister Anton Siluanov said Monday.

“We are losing around $40 billion per year due to geopolitical sanctions and we are losing some $90 to $100 billion per year due to oil prices falling 30 percent,” Siluanov said in a speech at an economic forum in Moscow, quoted by RIA Novosti news agency.

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