In Russia, federal TV channels and pro-Kremlin mass media take up a defensive stance on Western economic sanctions. Surprisingly, Russian officials and public figures stubbornly insist on beneficial impact of sanctions to the Russian economy and harmful impact to the EU economy. The Russian nationals certainly take it with a pinch of salt as the eurozone’s economy has been showing robust economic growth beyond expectations.
Wolfgang Büchele, a Chair of the Committee on Eastern European Economic Relations, estimated that both sides of the political conflict have already incurred massive losses of $100 billion. Standing for reconciliation, Mr Büchele called on Russia and the EU to cancel retaliatory sanctions. From his viewpoint, Europe has paid a dear price for the standoff sparked off by policymakers. Interestingly, the EU accounts for 40% of the damage, while Russia bears the rest of the losses. However, Russia’s authorities are unwilling to confess that the fallout is not shared equally. Being a leader of a private organization, Mr Büchele expresses a minority opinion which contrasts with the official EU rhetoric. Nevertheless, the Russian nationals are brainwashed by the federal media that the EU, especially Germany, France, Austria, and Italy, is not interested in extending sanctions. Only Poland and the Baltic Republics are allegedly vote for further sanctions.
In fact, anti-Russian sanctions have been unanimously prolonged by Brussels several times. What is more, the US is determined to step up political pressure on Russia. Recently, the Treasury Department released a list of Russia’s high-ranking officials and tycoons who will be also exposed to sanctions.
