Russia, Germany Hold Talks on Relaunch of Joint Subgroup on Finance

Russia and Germany have started talks on the relaunch of the joint Subgroup on Finance, a part of the German–Russian Strategic Working Group for Economy and Finance, Russian Ambassador to Germany Vladimir Grinin said Thursday.

MOSCOW (Sputnik) — The decision to relaunch the strategic group, despite sanctions, has been made in February at the meeting of the Russian Minister of Economic Development Alexey Ulyukaev and German Minister for Economic Affairs and Energy Sigmar Gabriel.

"On June 24, the first in almost two years meeting of the strategic group for economy and finance has happened. We now hold talks on the revival of the Subgroup on Finance, simultaneously, a question on filling of this block with further subgroups, in particular, for the pharmaceutical industry, has been raised," Grinin told Izvestiya Newspaper in an interview.

The last group's meeting was held in June 2013, the next one scheduled for April 2014 was canceled due to sanctions.

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 for 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.