German media: Germany suffers biggest losses in Europe from anti-Russia sanctions

15.12.2017, Germany.

German export companies incur the biggest losses in the EU as a result of anti-Russian sanctions, Frankfurter Allgemeine Zeitung reports on December 14.

According to the research of the Institute for the World Economy at Kiel University, the German export fell by almost 40%, while other European exporters have lost far less, and the USA has barely suffered any losses. To compare, the decline in Great Britain’s exports to Russia totals 7,9%, France’s – 4,1%, and the USA’s – only 0.6%.

The research revealed that after the sanctions were imposed the decline in German exports to Russia in the amount of $727 million per month.

The anti-Russian sanctions were imposed by the USA, and other countries were forced to join the sanctions under the US’ pressure because of the reunification of Crimea and Russia.

Source: Rossa Primavera News Agency

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