Estonia’s Kallas: Sanctions will hit Russia harder than recoil for EU

Siim Kallas
DELFI / Audrius Solominas

Kallas told interviewer Susann Kivi that Russia was entering deepening isolation after the third round of sanctions, including halting a process of unifying aviation rules with the EU that Kallas had worked toward. Kallas said isolation will strain finances and Russia may even have to take Soviet-style steps prevent the ruble from being freely traded against the dollar.

Asked how Europe – in particular the Netherlands with Rotterdam port and Germany with its gas dependence – would fare after the third round of sanctions was agreed, Kallas argued that some think tanks have put Russia’s share in Europe’s total foreign trade at a much lower level than commonly believed. “Even in Germany,” he said. “But many [individual] companies depend on Russia.”

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