MOSCOW, October 29 (RIA Novosti) — German exports to Russia have decreased 26.3 percent year-on-year and amount to 2.3 billion euro (about $2.9 billion) in August, the German Federal Statistical Office (Destatis) said on Wednesday.
"German exports to Russia decreased by 26.3% in August 2013," Destatis said in a press release, adding that between January and August 2014, German exports to Russia decreased by 16,6 percent compared with the same period in 2013 and totaled 20.3 billion euro ($25.87 billion).
In August, Eckhard Cordes, the chairman of Germany's Committee on Eastern European Economic Relations said that the country's exports to Russia may shrink by 25 percent this year, affecting as many as 50,000 German workplaces.
Economic relations between Russia and Europe have deteriorated due to the situation in Ukraine. Following Crimea's reunification with Russia, the European Union introduced several rounds of economic sanctions against Russia, blaming Moscow for meddling in Ukraine's internal affairs. In response, Russia implemented a one-year ban in August on certain food imports from European Union member states and several other countries.
In late October, however, Russian Economic Development Minister Alexei Ulyukayev said that Russia plans to continue trade cooperation with longstanding European partners like Germany, Netherlands and Italy, as long as the geopolitical situation allows the country to do so.
