Wednesday, March 23, 2016

After losses of over $20 billion, German businesses ready to end EU sanctions against Russia

As we have mentioned many times before, the economic symbiosis between European industry and Russia cannot be downplayed lightly since each earns billions of dollars per year in their transfers of energy and goods.  And going into the third year of U.S. imposed sanctions with Russia over the Kiev coup that Europe has summarily joined in with, the costs are continuing to climb to the point where businesses and politicians are now are extreme odds with one another on keeping these sanctions intact.
On March 21, Germany’s Chamber of Commerce for Russian-German trade spoke out against the continuation of ongoing sanctions, and cited annual losses of nearly $20 billion that are bringing serious harm to the German economy as Europe moves into a new recession.