"The time has come to raise this matter … It would be nice if the primacy of politics would be used to tackle political crises primarily by political means," Buechele said in an article for the German Handelsblatt newspaper, adding that the sanctions against Russia did not affect the issue of Crimea, but provoked "other high risks."
"De-facto, the total loss due to the economic sanctions for the European economy, including Russia, is estimating at hundreds of billions," Buechele said.
The relationship between Russia and the European Union soured after Crimean peninsula seceded from Ukraine and reunified with Russia following the March 2014 referendum. The Western countries, including the EU members, have not recognized the legitimacy of the vote, imposing several rounds of sanctions on Russia.
The European Union's main economic sanctions against Moscow are set to remain in place until January 31, 2017, and sanctions against some Russian citizens and legal entities are valid until March 15 of the same year.