Swedish finance minister: EU not aware of impact of sanctions on Russia

Swedish Finance Minister Elisabeth Svantesson conceded that the EU does “not know exactly” what effects its sanctions are having on the Russian economy, after being pressed on the issue by a journalist during a Financial Affairs Council meeting in Brussels on February 14.

"I think we should be honest. Of course, the sanctions have effects. On the other hand, we do not know exactly what effects they have because it is very difficult to measure,” Berlin-based Russian news service Ruptly quoted Svantesson as saying.

“The latest IMF forecast from two weeks ago shows a rather modest fall in the Russian GDP last year and slight growth this year,” she added.