For the first time since the introduction of Western sanctions against Russia increased export of German goods to Russia. According to the newspaper Süddeutsche Zeitung, in the third quarter of 2016, the volume of exports increased by 3.9% compared to the same period last year.

Exports of German products in Russia to this decreased for 13 consecutive quarters, and the process began even before the Ukrainian crisis, which led to the imposition of sanctions, – in the spring of 2013. At first it was because of the economic crisis in Russia, and then – due to taken in 2014, sanctions against Russia, says the article, which leads InoPressa.

Executive Director of the Eastern Committee of German economy Michael harms expressed the hope that after two years of losses in the German-Russian trade still passes low point. At the same time for significant growth should improve the conditions for companies, including progress on the issue of sanctions and the refusal of the Russian side of new protectionist measures, said harms.

According to the Süddeutsche Zeitung, with 2012, exports of German products in Russia fell by almost half, from 38 billion to 21 billion euros, and the number of companies operating in Russia decreased from 6 thousand to 5.5 thousand due to sanctions, German business fears losing its share of the Russian market, giving its competitors, including Chinese companies. But keep in mind that in the short term, the easing of sanctions is not expected, the article says.

The representatives of German business, not wanting to accept the loss, trying to reverse the situation. As reported on Tuesday by the German newspaper Frankfurter Allgemeine , citing Handelsblatt, the German business has called on the German government to revise anti-Russian sanctions.

The Chairman of the Eastern Committee of German economy Wolfgang Buchele, which quotes InoPressa, in an article for Handelsblatt wrote that it is time to think about this question. The author offers to use political, rather than economic means to resolve political crises.

At the present time, according to Buaale, punitive measures of the EU against Russia in connection with the annexation of Crimea was provoked by “high costs” – the total losses due to sanctions are measured for the European economy hundreds of billions of euros. Among the most affected – the Baltic States, Poland and Germany. In particular, according to economist estimates, the sanctions cost the German manufacturers in 2014-2015 at 13.5 billion euros.

We will remind, last week US President Barack Obama, while in Germany during his last foreign tour as head of state, agreed with European leaders to extend sanctions against Russia because of the situation in Ukraine. The White house said that the leaders of the USA and the European countries agreed that sanctions against Russia should continue until the Russian authorities do not fulfill their commitments to resolving the Ukrainian crisis.



German exports to Russia increased for the first time since the introduction of Western sanctions 22.11.2016

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