BERLIN, August 9. /TASS/. The Minister President of Saxony Michael Kretschmer believes that the policy of sanctions against Russia weakens the economic power of Germany and causes more harm to the European economy than the Russian one. He said this in an interview with the Handelsblatt newspaper.

"Germany has big problems, and the policy of sanctions against Russia also weakens our economic power," Kretschmer said.

"Now we feel the consequences: sanctions do not harm Russia to the extent that they harm the European economy. Inflation eats up purchasing power," the Saxon politician said. According to him, the world has split into two blocs, jeopardizing global trade. He noted that electricity prices in Germany are too high.

"Abandoning nuclear power was a mistake," Kretschmer said adding that the energy transition, in his opinion, failed.

The EU first introduced sanctions against Russia in 2014. Since then, the restrictions have been extended twice a year - in January and July - for six months. Since February 24, 2022, 11 packages of anti-Russian sanctions have been introduced. EU sanctions affected more than 1,800 individuals and legal entities. This is the largest sanctions regime in the history of the EU.