Russian Foreign Minister Sergei Lavrov has estimated that European companies suffered losses of at least €250 billion over the past year and a half due to Western sanctions against Russia. He pointed out that these sanctions have exacerbated global economic turmoil.
According to the Russian news agency TASS, Lavrov stated, “The Western sanctions imposed on Russia will not disappear in the long run. The West intends to disrupt the global economy by teaching Moscow a lesson and preventing it from playing a role on the international stage.”
Lavrov added, “We fully understand that the sanctions imposed on us will not vanish in the foreseeable future, as their architects have also indicated.”
On another note, the Russian Foreign Minister highlighted, “Russia has successfully altered and expanded the geography of its energy exports. The country is implementing reforms and strengthening its sovereignty in the energy sector.” He continued, “We are actively engaged in reforming our fuel and energy industry, enhancing its technological capabilities, workforce, and finances. We have developed new export markets and manage them effectively with positive results,” as reported by the Russian news agency TASS.
Lavrov also pointed out that Moscow has rapidly redirected oil, gas, and coal supplies to fast-growing markets, primarily in India, China, and other Asian and South American regions. He stated, “We know that our supplies enable our partners to curb the rise in raw energy material prices, thus enhancing economic stability.”
In conclusion, Sergei Lavrov’s remarks shed light on the significant economic impact of sanctions on European companies and Russia’s efforts to diversify its energy markets and enhance its energy sector’s sovereignty in a rapidly changing global landscape.