Russia: German business reps take «clear negative stance» on anti-Russia sanctions

Russian President Vladimir Putin spoke with German business representatives and politicians about strengthening economic ties between the two countries at a meeting in Sochi on Thursday. Putin said that «the cooperation of our countries should not be limited to only major projects», adding that Russia will «remove excessive administrative barriers, invest resources in the development of... Еще infrastructure and, of course, training.» German representatives were in agreement that the two countries should work together. Chairman of the Eastern Committee of the German Economy Wolfgang Buchele explained, «We have pointed out the dangers of a possible extraterritorial implementation of US sanctions for the German economy» and argued that US sanctions on Russia will «contribute to a further uncertainty for European businesses.» The meeting was attended by the executive directors of a number of major German companies as well as their owners and chairmen of the board. President of Kazakhstan Nursultan Nazarbayev was also among the participants. «The vast majority of Germans have no doubt that what we need is friendly relations with Russia,» added Buchele, expressing his confidence that «this aspiration will guide the new Federal Government.» Putin in turn said that in 2017 trade between Russia and Germany strengthened, reaching 25 percent. He added that «investments in the first quarter of this year alone were 312 million [dollars] comparing to 225 million [dollars] last year.»

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