Breaking News
The employees of Swisscom can buy more holidays

Penalties may destroy the Russian economy

The controversy that has erupted between Russia and Europe for Ukraine may hurt German companies, but can simultaneously and even threaten the very viability of the Russian economy, warned today the leading association of German merchants. The President of the lobbying of exporters, Anton Boerner, said that generally optimistic about our business abroad. Unfortunately this does not apply to business with Russia. He added that the conflict in the commercial field will be painful for the German economy, but for the Russian economy can threaten the very viability.

Russia

Russia

Anton Boerner

Anton Boerner

According to the German trade association, trade between Europe and Russia is 1% of EU GDP and 15% of Russia’s GDP. The union expects an increase of German exports by 3% this year and imports by 2%, but these figures may be revised if escalated tension between the EU and Russia. According to Reuters, about 6,200 German companies operating in Russia, while the value of trade between the two countries more than 76 billion euros.

By Nicole P.

Leave A Reply