Almost 90% of German Companies Working in Russia Want EU Sanctions Lifted

A survey found that 86 percent of German companies operating in Russia believe that the EU sanctions against the country do not reach their objectives and would like to see them lifted, the Russian-German Chamber of Commerce (AHK) announced on Friday.

MOSCOW (Sputnik) — Of these, 46 percent of respondents want the restrictive measures removed immediately, and 40 percent gradually, even if the Minsk deal on the eastern Ukrainian settlement is not fully implemented. Only 14 percent of those surveyed named the implementation of the Minsk agreements a priority and a prerequisite for their cancellation.

Reciprocal EU-Russian sanctions have affected 58 percent of the 800 member companies surveyed. According to the survey, the greatest impact was on the financial market, and the trade of dual-use goods.

The results also showed that, 32 percent of respondents evaluated the economic situation in Russia as stable, and almost half predicted a slight economic growth in 2017.

According to the German companies, the main factors interfering with business are the unpredictable economic situation, excessive bureaucracy and inflation. The entrepreneurs named Moscow, Russia's Republic of Tatarstan and St. Petersburg as the most attractive regions for business.