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German businessmen say sanctions on Russia fraught with serious risks

German businessmen strongly oppose any new restrictions

BERLIN, January 30. /TASS/. Sanctions on Russia are fraught with serious risks so German businessmen strongly oppose any new restrictions, the German Committee on Eastern European Economic Relations said in a statement on Tuesday.

"We reject the [possible] introduction of new economic sanctions, which lead us away from the negotiating table, toughen stances, spread uncertainty among companies and create unpredictable economic risks," the statement reads. "There should be prospects for the removal of sanctions in exchange for a significant progress in the peace process in eastern Ukraine, that could serve as a positive impetus," the Committee said.

"According to the US administration, there are currently no plans to impose new sanctions and it is a positive sign," the document added. "It means there is hope that the European Union and the United States will hold close consultations on the lifting of sanctions and there is a chance to find a way out of this difficult situation through diplomatic means," the Committee noted.

"We believe that the hype over the so-called Kremlin list is unjustified," the Committee members said, adding that Russia and German businessmen "should react calmly" to the relevant report’s release because the US administration "has made it clear that the list should be viewed regardless of any possible new sanctions against Russia."