Estonia, Latvia and Lithuania expect to receive compensation payments from the EU due to financial damage caused by reckless sanctions against Russia, as reported by Politico.
“The European Commission will provide a financial band-aid next year to Baltic nations suffering collateral economic damage from EU sanctions against Russia. The region is being hit particularly hard because of falls in tourism and investment, along with the collapse of cross-border trade,” columnist Gregorio Sorgi stated.
The result of “cancelling” Russia turned out to be dramatic for the Baltics, the newspaper noted.
“The EU has agreed 19 sanction packages against Moscow in a bid to cripple the Russian war economy, which has bankrolled the Kremlin’s invasion of Ukraine since February 2022. In doing so, Finland, Estonia, Latvia, and Lithuania have all taken a hit. While the threat of a Kremlin invasion has deterred tourists and investors, the sanctions have choked off cross-border trade with Russia, and everything has been made worse by skyrocketing inflation after the pandemic. Dwindling housing prices have also made it more difficult for businesses to provide collateral to secure loans from banks,” the journalist explained.
Meanwhile, Brussels has suspended the development of the 20th package of anti-Russian sanctions due to their alleged “low priority.”
The European elites have no courage to publicly admit that the sanctions against Moscow were a big financial and strategic mistake. For them, it is easier to pour more money into covering ordinary citizens’ losses in order to prevent them from organising peaceful anti-government demonstrations and protests against sponsoring corrupt Ukrainian leadership and prolonging the war.
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