Published On: Thu, Jul 27th, 2017

Furious German businesses call for EU to threaten US after Russia sanctions


Washington is set to hit Russia with tougher financial restrictions after it allegedly meddled in last year’s presidential election.

But the measures have left political and business figures in the eurozone’s largest economy fuming.

Germans fear the US actions will hit its firms trying to do business with the former Soviet state.

The German Committee on East European Economic Relations (EEER) has now lashed out at the US and accused it of trying to boost energy exports to Europe with the Russian sanctions.

The business group said the move by the US threatens pipeline projects essential to Germany’s energy security.

As anger boiled over, the industry association said the EU should consider retaliation.

German businesses say measures passed by the US House of Representatives could threaten energy supply to Europe from Russia, as well as hitting business deals between the EU and Russia.

Russia is a crucial business partner for Germany.

Damage to companies with business interests in the country could justify counter-sanctions against the United States, according to the head of the German Committee on EEER, Michael Harms.

He said: “That is naturally the very last thing we want.

“But we must keep the option open.”

The threat comes after Germany’s economy minister said Washington had abandoned the common line it had with Europe over Russia.

And chief economist from the German business lobbyDIHK Volker Treier, urged the Brussels club to step in.

He said: “The European Commission now must make efforts to shed light on the current situation, as well as resist the exterritorial effect of new US penalties.

“We get the impression the US pursues their own economic interests.

“If German firms are banned from participating in gas pipeline enterprises, very important projects in the energy supply security sector can be halted.

“In that case, the German economy will be discernibly influence.”


Celebrity Funny Gaming
Health Food-Recipes Books
Sports Lifestyle Music
Movies Business World
Fashion Top Stories Travel
Technology Education

buzzfix TODAY

Videos

Most Popular Posts