You're reading: Luxembourg’s Prime Minister: Anti-Russian sanctions result in economic slowdown both in Russia and Europe

The anti-Russian sanctions imposed by the EU have resulted in a considerable economic slowdown both in the European Union and in Russia, Luxembourg's Prime Minister Xavier Bettel has said.

“The sanctions imposed by EU result in the undermining of our relations. This upsets entrepreneurs both in Luxembourg and in Russia,” he said. Luxembourg is currently presiding in the European Union.

“The sanctions have resulted in a considerable economic slowdown both in Russia and in Europe,” Bettel said.

However, referring to Luxembourg-Russia relations, Bettel pointed out their certain degradation.

“Regrettably, there is no longer that increase in investment that we used to observe there,” he said.