You might not believe who’s benefiting from the sanctions on RussiaFrom Mike “Mish” Shedlock at Global Economic Trend Analysis:
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Please consider Europe Feels Sting in the Tail of Russia Sanctions.
- EU exports to Russia fell 19 percent to 7.9 billion euros ($9.91 billion) compared to July.
- EU exports down 18 percent compared to August 2013.
- Total EU exports fell 12 percent in the first eight months of this year compared to a year ago.
- EU exports of machinery and transport equipment such as cars and tractors fell 23 percent compared to July.
- Machinery and transport exports fell 21 percent from a year ago.
- Manufactured exports fell 16 percent across the 28-nation bloc in August.
- Italy’s manufactured exports tumbled by almost half.