VIENNA, October 22. /TASS/. Sanctions against Russia have dealt a blow to the EU economy from which it has yet to recover, Russian Permanent Representative to the OSCE Dmitry Polyansky said at a regular meeting of the organization’s Permanent Council.

"Sanctions have become an instrument of self-destruction for the European economy, dealing it a blow from which it has yet to recover. Record inflation, rising energy prices, deindustrialization, declining competitiveness, and an exodus of capital and manufacturing facilities. European taxpayers are ultimately footing the bill for a sanctions campaign that primarily hurts the European Union itself. Restrictions on energy supplies, financial transactions, and technology exports have backfired on European companies and households," he said.

The diplomat added that even in Europe, there is now a growing recognition that meeting Kiev’s increasing demands will require further cuts in domestic spending, including on social needs.