BERLIN, April 16. /ITAR-TASS/. Germany’s leading economic associations fear the consequences of the events in Ukraine, says Germany's largest business and finance daily, Handelsblatt.

Executive director of the Committee on Eastern European Economic Relations Rainer Lindner “has warned in this connection against imposing economic sanctions on Russia”, the paper reports.

“Latest developments in Ukraine’s east are alarming,” Lindner told Handelsblatt Online. “The German economy fears immediate sanctions against Russia”, which may lead to “severe economic consequences in eastern Ukraine”.

The expert said it was not possible currently to estimate damage from possible sanctions given that “their art and scope are not clear”. But German enterprises could already feel the negative impact of the current tense situation, he said.

“The committee... is still against economic sanctions and calls for a diplomatic solution, though it will certainly accept the decision of politicians,” Lindner added.