German business circles criticize US sanctions

The East German Economy Commission is outraged by the US bill to sanction companies that do business with Russia.

“Nord Stream 2 will improve the supply of gas to Europe and help us compensate for the losses in the supply of this raw material as a result of falling production in the EU, and thus will help stabilize prices,” Michael Harms, CEO of the Committee for Eastern Europe, told reporters in Berlin. which represents more than 200 companies maintaining trade relations with Eastern Europe.

“We reject attempts to politicize this project,” said the German businessman. In his opinion, Nord Stream 1 was “a complete success”. “Gas has reached every corner of the EU,” he said.

The United States intends to impose sanctions against Russia, which, in his opinion, violate the interests of German and European companies trading with Russia. This is a threat to the development of the European economy.

He warned that if the new rules come into force, all international companies involved in the modernization and maintenance of gas pipelines that export Russian gas to Europe will suffer. “This would be a fundamental blow to the supply of gas to Europe, which would lead to higher prices and a decrease in the competitiveness of the European economy,” he said.

German business circles - unlike the government in Berlin - are in favor of a gradual lifting of sanctions against Russia, as the peace process in eastern Ukraine moves forward.