16:48 GMT +324 May 2017
Live
    Moscow sights

    91% of German Firms in Russia Demand Removal of Western Sanctions

    © Sputnik/ Grigoriy Sisoev
    Business
    Get short URL
    61012113

    German businesses with offices in Russia are more concerned with economic problems than with the politics, Deutsche Wirtschafts Nachrichten wrote. Many companies demand the removal of anti-Russian sanctions as they negatively affect business relations between the countries.

    In its publication, DWN referred to a poll conducted by the Russian-German Chamber of Foreign Trade. According to the survey, "91% of German firms operating in Russia demand the abolition of anti-Russian sanctions," the newspaper noted.

    Trade volumes between Germany and Russia increased by 43 percent up to 6.7 billion euro in January and February compared with the same period of the previous year, the newspaper wrote.

    "Despite the ongoing crisis in Russia, German companies in the country see a significant improvement in bilateral relations," the article said.

    At the same time, there are still serious economic obstacles that hinder fruitful cooperation between the countries.

    Sixty percent of the companies believe that the inflation and fluctuating exchange rates are among the most disruptive factors affecting economic cooperation between the countries. More than one third of companies also think that anti-Russian sanctions have a serious negative impact on bilateral business cooperation between Germany and Russia.

    According to the survey, 49% of the respondents call for the immediate abolition of economic sanctions, while 42% demand their gradual reduction. Only 8% of the companies want the sanctions to stay in place, while 1% calls for their extension.

    Since 2014, relations between Russia and the West deteriorated amid the crisis in Ukraine. Brussels, Washington and their allies introduced several rounds of sanctions against Russia on the pretext of its alleged involvement in the Ukrainian conflict, which Moscow has repeatedly denied. In response to the restrictive measures, Russia imposed a food embargo on some products originating in countries that have targeted it with sanctions.

    Related:

    Sanctions Against Russia 'Defy the Will of the People of Crimea' - Italian MP
    What Doesn't Kill Us Makes Us Stronger: Sanctions Help Russia 'Develop' - PM
    Tags:
    sanctions, business, Germany, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment