Most German Companies Say Sanctions Against Russia Not Effective - Poll

BERLIN, September 9 (RIA Novosti) – Most German companies operating in Russia believe that economic sanctions against Moscow are not proving effective so far, an opinion poll conducted by the German-Russian Chamber of Foreign Trade (AHK) revealed on Tuesday.

“Almost 80 percent of the polled enterprises believe that economic sanctions are not effective and appropriate to promote political decisions,” the press service of the chamber told RIA Novosti in a statement.

One third of the respondents agree that sanctions still need to be introduced. “Two thirds, on the contrary, think that the sanctions are not necessary,” the statement said citing the poll.

A total of 58 percent of German enterprises have marked that the Ukrainian conflict directly affects their business. So far, sanctions have targeted only 38 percent of the polled companies.

“We do not consider that long-term political goals can be achieved through economic sanctions. In the current circumstances, they look like a well-tried means of bringing all the parties to the negotiating table,” the chairman of the German-Russian Chamber of Foreign Trade, Rainer Seele, was quoted by the press service as saying.

The respondents said the sanctions will lead to further deterioration of the economic environment. Some 71 percent of enterprises expect economic slowdown by the end of the year.

If the situation deteriorates further, many German companies will be forced to suspend their projects in Russia, dismiss part of their staff or even leave the country.

“We feel yet no changes in relations with our Russian business partners. But the Russians’ turn to Asia, either it is voluntary or forced, is a completely real challenge,” Seele said.

Despite all the political crises, three quarters of German firms still see great potential on the Russian market.

The survey involved around 300 German companies operating in Russia.

The European Union officially adopted on September 8 a new round of sanctions against Russia over its alleged participation in «destabilizing eastern Ukraine.» Some EU countries, led by Finland, advocated the delay of imposing new sanctions against Russia over the Ukrainian crisis, The Wall Street Journal reported.