Nicosia: The High Representative of the European Union (EU) for Foreign Affairs and Security Policy, Kaja Kallas, announced that Western sanctions imposed on Russia due to its military operation in Ukraine have cost Moscow between $1.2 and $1.5 trillion.

According to Qatar News Agency, Kallas stated, "The numbers speak volumes: Western sanctions have already cost Moscow an estimated $1.2 to 1.5 trillion. We are collapsing the foundations of Russia's war economy." She made these remarks during a press conference following a meeting of EU defense ministers in Nicosia, Cyprus.

Kallas also disclosed that there are proposals to impose sanctions on over 80 individuals and entities in Russia, which are set to be discussed at the foreign ministers' meeting scheduled for next Monday.