Business between Germany and Russia is well underway despite sanctions


June 29th, 2017 – Fort Russ News –
– Sputnik Italia – – translated by Frederick Assar –

For the Eastern Committee, despite the damage caused by Russian sanctions, the commercial situation between Germany and Russia is on the rise due to the initiation of German production on Russian territory, the Handelsblatt newspaper reports.

Calculating the damage caused by sanctions, experts from the United States, Russia and Germany say that 20 to 43 per cent of export losses are directly dependant on sanctions, while about 20 per cent has been caused by the Russian economic crisis in 2013.

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The number of representatives from German companies in Russia during the crisis fell from 6,000 to 5,300. Due to the sanctions, some 60,000 jobs were cut, resulting in a reduction in production for the Russian market, with a loss of 13.5 billion euro. However, since the summer of 2016, bilateral trade has risen again significantly. Even if the volume of exports did not improve, the set up of production facilities in Russia has risen. 

The Committee supports the phasing out of sanctions, the publication stresses, coinciding with the progress made in implementing the Minsk agreements. It is also promoting the start of negotiations on the creation of a common economic space from Lisbon to Vladivostok.

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