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Sanctions against Russia can hit Europe — German committee

July 22, 2014, 19:31 UTC+3 BERLIN
Germany’s Committee on Eastern European Economic Relations chairman Eckhard Cordes says sanctions increase the price that everyone has pay for this conflict
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Eckhard Cordes

Eckhard Cordes

© EPA/Marius Becker/Archive

BERLIN, July 22./ITAR-TASS/. Germany’s Committee on Eastern European Economic Relations chairman Eckhard Cordes has warned of dramatic consequences of the unrest in Ukraine.

“Regardless of economic sanctions, the export of German goods to Russia and Ukaine can decrease by more than €6 billion this year,” Cordes said on Tuesday. The conflict in Ukraine “hampered economic progress in Eastern Europe. We feel the negative consequences”, he said.

“Sanctions increase the price that everyone has pay for this conflict,” Cordes said. The sanctions “can keep investors on the sidelines and further isolate Russia,” he said.

“We call for resolving the conflict by diplomatic means. It is necessary to take advantage of a ceasefire declared in certain areas.” “The death of almost 300 people should convince every party that the conflict should be resolved by talks,” Cordes said.

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