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BERLIN, April 11. /ITAR-TASS/. Economic sanctions against Russia are unlikely to be effective in settling the Ukrainian crisis, Ingo Kramer, president of the Confederation of German Employers' Associations (BDA), told Germany’s daily Die Welt (The World) on Friday.
“Our enterprises are really worried about their relations with Russia,” Kramer said. “Some of them can already feel the consequences of the current crisis, but this has not affected the general state of the economy yet.”
“Economic sanctions will not help to reach a breakthrough in politics,” he said. “And I do not think there will be any escalation (of the conflict) or another ‘ice age’. There is very strong interdependence (between Russia and the West).”
Kramer added that “Russia has always been a reliable economic partner”, which was not to be neglected.
German experts agree that economic sanctions would have a negative impact. Trade turnover between Russia and Germany reached €76 billion last year and about 6,000 German companies cooperate with Russian enterprises, with total investments reaching €20 billion.
Some 300,000 jobs in Germany are at risk from economic sanctions against Russia, a possibility not excluded by the federal government.