Ministry of economy of Germany saw new U.S. sanctions, the threat of German business

New US sanctions against Russia, a bill which was passed by the house of representatives could hurt German companies and add difficulties in relations between Berlin and Washington, said the Minister of Economics of Germany

Brigid Cypris

(Photo: Ng Han Guan / AP)

The Minister of economy of Germany, Brigitte zypris the TV channel ARD said that new US sanctions against Russia are “another problematic point of the already tense relations” between the US and Germany.

She urged Washington to act in the matter of the sanctions policy against Russia in cooperation with Europe. “The United States have departed from the usual line of [its policy] on sanctions against Russia, which they spent in Europe,” said cipres (quoted by Reuters). The Minister stressed that otherwise there is a risk of damage to German businesses.

In parallel the U.S. sanctions against Russia and criticized in the German Committee on Eastern European economic relations, the forum which took place on 27 July. According to representatives of the Committee, quoted by Reuters, the us sanctions will harm the interests of European energy companies. In addition, according to the Committee, the anti-Russian sanctions are designed to encourage the export of American energy to Europe.

Stress that retaliatory sanctions on restrictive measures, the United States should not be excluded as “the last option”.

The President of the Russian-German chamber of Commerce, head of the energy group OMV, responsible for the Nord Stream project 2 c the European side in conversation Rainer Seele told RBC that the planned US sanctions would harm German business in Russia, as they undermine the transfer of know-how and technology, causing uncertainty in entrepreneurs, increase protectionism and create a new field for conflict.

“It is not clear why the United States is unilaterally trying to create a base for new sanctions. This jeopardizes not only the energy security of Europe, which in the future will require the supply of Russian gas, but the business of German companies in Russia”, — he said.

Seele is sure that issues of energy security and energy supply of Europe “are solely the responsibility of the European Union”.

The economic sanctions that were imposed against Russia in response to annexation of Crimea in 2014, criticized the Russian-German economic relations to a severe test. Nevertheless, the German business community does not recognize the sanctions as a tool for realization of political will. In the survey on the business climate conducted by the Russian-German chamber of Commerce jointly with the Eastern Committee of German economy, 91% of the interviewed representatives of the 190 German companies voted against the sanctions.

Chairman of the Russian-German chamber of Commerce Matthias Schopp in conversation with RBC said that the measures promoted by Washington will sharpen a confrontation between the West and Russia.

“The bill ignores the interests of Germany and the European Union. European policy needs to exclude the possibility that the extraterritorial impact of U.S. sanctions could restrict European and German companies in the Russian market”, — he believes.

On the eve of the German Federal Association of chambers of Commerce and industry (DIHK) has criticized the new US sanctions, saying they have “extraterritorial effect.” “If the German company will no longer be allowed to work on the gas pipeline projects are important for security of supply will be stopped”, — said the head of the foreign economic Department of the DIHK Volker trayer.

The house of representatives have passed a bill on new sanctions in the Senate support the bill and are ready to take it this week. The US President Donald trump and the White house also “strongly support” restrictive measures against Moscow, but nevertheless do not exclude that the approved bill can be amended before its final adoption.

official channels

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