Berlin Economics presented the 2nd revision of its survey on “Economic effects of reciprocal EU-Russia Sanctions on the EU” in a meeting at the Federal Ministry of Economic Affairs and Energy (BMWi) on 30 May 2017.
The event was attended by representatives of the BMWi, the Federal Ministry of Foreign Affairs (AA), trade associations, the German Chamber of Industry and Commerce (DIHK) and individuals from private businesses.
We estimate the impact of the sanctions on the EU GDP of 2016 at EUR 4 to 7 bn, respectively 0.03-0.05%. Estimations of other studies are significantly higher and do not seem plausible to us.
While presenting the first version of the study we received several questions, the answer to which we have now included into the second version. Among those are:
– Analysis of the impact of the sanctions on individual EU member states
– Analysis of the impact of the sanctions on different product groups
– Some general ideas on the plausibility of the adjustment factor, including an estimation of the adjustment factor for agricultural raw products
– Data about the adjustment in the machinery and transportation sectors
For more detailed information, please find the complete analysis under the following link.