EU losses from Russian gas cuts top €1t, says RDIF Chief

The European economy has lost more than €1 trillion due to reduced Russian natural gas supplies, according to TASS, citing the CEO of the Russian Direct Investment Fund (RDIF) and Special Representative of the Russian President for investment and economic cooperation Kirill Dmitriev.

Speaking on the sidelines of the 2025 St. Petersburg International Economic Forum (SPIEF), Dmitriev said the figure underscores the scale of the impact on the European Union following the energy fallout from the Ukraine conflict.

He also noted that US losses from sanctions against Russia have surpassed $300 billion, citing a recent statement by President Donald Trump as the first US acknowledgement of the sanctions’ negative effect on American businesses.

Attribution: TASS
Subediting: M. S. Salama