10:02 GMT +312 December 2019
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    German Business Proceeds to Invest in Russia Amid Sanctions – Ambassador

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    Western Sanctions Against Russia (737)

    The German businesses' interest to invest in Russia remains high despite the EU economic sanctions, German Ambassador to Russia Rudiger von Fritsch said Friday.

    MOSCOW (Sputnik) — The German businesses' interest in making investment in Russia remains high despite the EU economic sanctions as the volume of Germany's direct investment in the country during the first half of 2016 increased by 50 percent against the same period of 2015, German Ambassador to Russia Rudiger von Fritsch said Friday.

    “The willingness to invest in Russia remains consistently high. In 2016, the level of investment has reached the numbers not observed for a long time … The amount of investment at the end of the year is much greater than in the previous couple of years. According to the [German] Federal Bank, during the first half of 2016, the volume of direct investment from Germany was 50 percent higher than in the corresponding period of 2015,” von Fritsch told the Moskovsky Komsomolets newspaper.

    He added that science and culture were other important areas of cooperation between Russia and Germany.

    Since 2014, relations between Russia and the European Union, including Germany, deteriorated amid the crisis in Ukraine. Brussels, Washington and their allies have introduced several rounds of anti-Russia sanctions since Crimea became part of Russia in 2014 and over Moscow's alleged involvement in the Ukrainian conflict.

    Russia has repeatedly refuted the allegations, warning that the Western sanctions are counterproductive and undermine global stability.


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    Western Sanctions Against Russia (737)


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    European Union, interest, anti-Russian sanctions, business, investment, Germany, Russia
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