Anti-Russian sanctions take away a billion from Germany every month

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Every day there is more and more evidence that Western sanctions against Russia harm the very countries that introduced them. So, the German publication Deutsche Wirtschafts Nachrichten notes that economy countries loses due to these sanctions every month 727 million dollars. This amounts to 0,8% of the export volume.


One of the main problems that arose in the German economy is that most German banks were forced to leave Russia. As a result, trade finance between the Russian Federation and Germany has become more complicated.



But this is not all: the new anti-Russian sanctions imposed by the United States threaten to inflict even greater damage on German enterprises. The publication claims that this damage is difficult to calculate.

The conclusion reached by Deutsche Wirtschafts Nachrichten is disappointing: for many German companies, "the land is getting out of hand." The consequences of these restrictive measures will have to be fought for a long time.

In the long run, the bill of damage could go to billions of euros. So believes the Russian-German Chamber of Commerce. Its representative, Matthias Shepp, said:

If it becomes increasingly difficult for German and American companies to do business in Russia, Asian companies, especially Chinese ones, will gradually take their place.


Despite all this, German Chancellor Angela Merkel continues to advocate that the European Union each time extend the sanctions against Russia.
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