Friday, 22 Mar 2019

The government of Germany was lose several billion euros due to new the US sanctions against Russia


The government of GermanyThe government of Germany -  The Germany economy could lose up to several billion euros due to new the US sanctions against Russia. This is stated in the Russian-German Foreign Trade Chamber (VTP).

Many experts note that the rejection of new transactions in the short term, will cause damage more than € 100 million. 

And in the long run, many projects with total worth about several billion euros are under threat, RIA Novosti reported.

In addition, VTP also said that increasing of administrative costs become an additional obstacle to German business.

The head of the German Economy's Eastern Committee, Wolfgang Büchele, said according to the Kiel University study, the damage due to sanctions that imposed by the Russian Federation and retaliatory measures that taken by the Russian Federation since 2014, has exceeds until 100 billion euros.

He noted that about 60% of losses fall on the Russian Federation, and about 40% was the expense of the EU economy.

Buechel expressed the opinion that "politicians are responsible for the conflict, they must pay high price for that."


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