According to the study, the German economy suffers by far the largest export losses among the Western Nations due to the sanctions against Russia, the newspaper Rheinische Post reported, citing an unpublished investigation of the Kiel Institute for the World Economy (IfW).
“Germany accounts for almost 40% of lost trade in the West, while other major geopolitical players such as the United Kingdom (7.9%), France (4.1%) and the United States (0.6%) are far less affected,” reads the study.
According to the calculations of the Kiel Institute, German exports are on average about 727 million dollars (618 million euros) per month lower than in the scenario without sanctions. According to the IfW calculations, the total cost of the sanctions imposed on Russia in 2014 was $ 114 billion (€ 97 billion) in 2015 alone, with 61% attributable to Russian companies. The export loss of the sanctioning western countries amounted to 44 billion dollars (37.5 billion euros), of which 90% fell to the EU countries.
- The EU imposed various sanctions on Russia since the annexation of the Ukrainian region of the Crimea back in 2014.
- In addition to sanctions against individuals and organizations, there are sanctions against parts of the Russian economy.
- Rest assured, Marine Le Pen, sanctions against Russia work
- US sanctions on Russia effective, don’t hurt American economy, report finds
- The treason of Europe: PACE adopts resolution allowing to lift political sanctions against Russia
- EU Parliament demands Russia release 47 Ukrainian de facto political prisoners
- Arms race, on top of sanctions, destroyed the USSR and will destroy Russia
- Russia considering introducing Islamic banking to get around Western sanctions
- Siemens’ Crimea sanctions break – a case of criminal negligence | #SiemensGate
- Trump and Russian sanctions
- EU sanctions keep Putin’s associate from entering Moldova
- EU prolongs sanctions over actions against Ukraine’s territorial integrity
- USA sanctions against Russia renewed and reinforced. Key things to know
- Powering the Anschluss. How Siemens turbines ended up in Crimea despite sanctions
- Ukraine extends sanctions, blocks popular Russian web services and software companies
- Scandal as Dutch companies help build bridge to occupied Crimea, violating sanctions
- Ukraine considers sanctions against officials behind media crackdown in occupied Crimea
- Armenia is the Vichy France of today, Khzmalyan says
- Recent US survey shows American public in favor of stronger sanctions on Russia
- European Parliament: Russia should free all the illegally imprisoned Ukrainians #LetMyPeopleGo