One hundred billion losses. Sanction payment
Economic sanctions and counter-sanctions cost Russia and Europe more than one hundred billion euros. About 60% of the losses were in Russia, about 40% - in the EU.
Wolfgang Büchele, Chairman of the Eastern Committee of the German Economy, believes that the next American “anti-Russian list” (meaning the “Kremlin report”) should be taken calmly. There is no need to worry, especially since the American administration itself made it clear that the list is one thing, and the sanctions against Russia are completely different, Herr Buchele believes.
The names listed "are clearly not related to possible new sanctions or possible violations of the law," the head of the Eastern Committee said. And no new sanctions are planned by the US administration, he explained. The official is sure that this in itself is a “positive signal”, as it “leaves hope” that the EU and the USA will finally “reconcile in the issue of sanctions”, and the resolution of the current crisis will be found “through diplomatic initiatives”.
However, Herr Büchel's statements contain some concern. It is quite reasonable. And not without reason in his speech he expressed solidarity with the current demand of the authorities of some eastern lands of Germany. Many of them are inclined to the idea of easing sanctions against Russia. Buchele himself advocates a "decisive diplomatic offensive" and "improving Russian-American relations," as well as "resolving the conflict in Ukraine."
Buchele's theses are simple and straightforward. Their reason is also clear. Sanctions cost the conflicting parties too expensive. 100 billion euros! And even more.
According to Buchele, the new economic sanctions only lead away from the negotiating table and intensify confrontation, thereby creating concern and creating “innumerable risks for the economy”.
According to a study by Kiel University, cited by German financial portal finanzen.net, mutual economic sanctions in force since 2014 cost the parties more than 100 billion euros. About 60 percent of losses are in Russia, about 40 percent - in the economy of the EU.
Recall, the other day, the heads of five eastern German lands openly opposed anti-Russian sanctions.
As for the assurances of Herr Buchele that the “Kremlin report” is one thing, and the sanctions against Russia are another, he hardly believes in that. Rather, it is an attempt to calm German business circles.
The fact is that US Treasury Secretary Stephen Mnuchin says exactly the opposite of what Wolfgang Buechel says.
The publication of a list of Russian oligarchs and officials will be followed by new US sanctions, Mr. Mnuchin explained. “We will take this report [“ Kremlin report ”] as a basis and see how we usually do it, where sanctions should be introduced. In no case should this be interpreted as if we were not imposing sanctions on certain individuals mentioned in this report, ”Voice of America quotes Mnuchin.
As a result, we note that a German business that deals with Russian companies that have fallen into the Kremlin report may face the sad fact of new sanctions. After all, sanctions will affect not only persons from the list, but also those who decide to cooperate with them.
Photos used: https://www.golos-ameriki.ru.
US Treasury Secretary Stephen Mnuchin
Wolfgang Büchele, Chairman of the Eastern Committee of the German Economy, believes that the next American “anti-Russian list” (meaning the “Kremlin report”) should be taken calmly. There is no need to worry, especially since the American administration itself made it clear that the list is one thing, and the sanctions against Russia are completely different, Herr Buchele believes.
The names listed "are clearly not related to possible new sanctions or possible violations of the law," the head of the Eastern Committee said. And no new sanctions are planned by the US administration, he explained. The official is sure that this in itself is a “positive signal”, as it “leaves hope” that the EU and the USA will finally “reconcile in the issue of sanctions”, and the resolution of the current crisis will be found “through diplomatic initiatives”.
However, Herr Büchel's statements contain some concern. It is quite reasonable. And not without reason in his speech he expressed solidarity with the current demand of the authorities of some eastern lands of Germany. Many of them are inclined to the idea of easing sanctions against Russia. Buchele himself advocates a "decisive diplomatic offensive" and "improving Russian-American relations," as well as "resolving the conflict in Ukraine."
Buchele's theses are simple and straightforward. Their reason is also clear. Sanctions cost the conflicting parties too expensive. 100 billion euros! And even more.
According to Buchele, the new economic sanctions only lead away from the negotiating table and intensify confrontation, thereby creating concern and creating “innumerable risks for the economy”.
According to a study by Kiel University, cited by German financial portal finanzen.net, mutual economic sanctions in force since 2014 cost the parties more than 100 billion euros. About 60 percent of losses are in Russia, about 40 percent - in the economy of the EU.
Recall, the other day, the heads of five eastern German lands openly opposed anti-Russian sanctions.
As for the assurances of Herr Buchele that the “Kremlin report” is one thing, and the sanctions against Russia are another, he hardly believes in that. Rather, it is an attempt to calm German business circles.
The fact is that US Treasury Secretary Stephen Mnuchin says exactly the opposite of what Wolfgang Buechel says.
The publication of a list of Russian oligarchs and officials will be followed by new US sanctions, Mr. Mnuchin explained. “We will take this report [“ Kremlin report ”] as a basis and see how we usually do it, where sanctions should be introduced. In no case should this be interpreted as if we were not imposing sanctions on certain individuals mentioned in this report, ”Voice of America quotes Mnuchin.
As a result, we note that a German business that deals with Russian companies that have fallen into the Kremlin report may face the sad fact of new sanctions. After all, sanctions will affect not only persons from the list, but also those who decide to cooperate with them.
Photos used: https://www.golos-ameriki.ru.
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