Magda Panoutsopoulou
25 March 2022•Update: 26 March 2022
ATHENS
Unprecedented massive package of sanctions against Russia "actually do bite” and hurt the European economy as well, Greek Prime Minister Kyriakos Mitsotakis has said in an interview with CNN.
Mitsotakis said on Thursday that the Russian economy has contracted around 10%, adding that “all the gains that Russia has made over the past decade could be eradicated within a year.”
Although these sanctions are significant, Europe should be very careful not to let these sanctions hurt Europe more than they hurt Russia, he noted, referring to the elevated energy costs.
Responding to a question on paying the price over the sanctions imposed, instead of fighting a war, Mitsotakis said: “We are paying a price.”
He added: “We all need to reassess our growth forecasts, we’re faced with significant inflationary pressures as a result of the war, and energy costs are really hurting.”
Mitsotakis also noted that apart from being committed to supporting Ukraine, the same commitment goes to “citizens to make sure that they do not suffer more than they can actually bear.”
On the refugee crisis, he said: “We were at the forefront of the refugee crisis of the past. So we’re very sensitive in terms of making sure that we can provide a safe place for Ukrainian refugees.”
He added though that European countries need to do more because the numbers are just going to be "overwhelming.”
Greece currently hosts around 15,000 Ukrainians that fled their battered country since the Russian launched a war on Ukraine on Feb. 24.
The Russia-Ukraine war has met international outrage with the EU, US, and UK, among others, implementing tough financial sanctions on Moscow.
At least 1,035 civilians have been killed in Ukraine and 1,650 injured, according to UN estimates, while cautioning that the true figure is likely far higher.
More than 3.7 million Ukrainians have also fled to neighboring countries, with millions more displaced inside the country, according to the UN refugee agency.
