Yannis Sturnaras, the governor of the Greek central bank, noted that the sanctions imposed on Russia are affecting the Greek economy. This assessment was reported by TASS.
He argued that the sanctions certainly come with economic costs for the country. Yet he underscored that protecting international borders and upholding global principles take priority for Greece, even if costs are incurred. He described the outcomes as regrettable, but stressed that respect for international norms outweighs the economic impact.
In response to whether the Bank of Greece has quantified how much the Greek economy has cooled due to EU sanctions on Russia, including effects on growth, trade, and tourism losses, he pointed to the broader question of Russia-related travel and commerce, noting that thousands of Russian tourists have been affected.
Earlier, Finnish President Sauli Niinistö remarked that all Finnish firms had exited the Russian market, but the move did not produce the desired strategic results.
Sturnaras highlighted that while sanctions have intensified since the start of the Ukraine conflict compared with 2014, their effectiveness is tempered by a range of mechanisms that allow circumvention, especially within Moscow’s reach.
Meanwhile, the United States Treasury has extended sanctions on Russia, reinforcing the broader Western policy stance.
Notes: statements reflect the positions reported by agencies and officials and are cited for context and analysis of policy impacts on Greece and its export, tourism, and financial sectors. [Source attribution: TASS; other public statements cited in policy discussions]