Anti-Russia bans negatively affect Europe: Analyst
The
sanctions imposed against Russia over the crisis in Ukraine will in
fact adversely affect European economies as they lower growth and
economic forecasts, an analyst tells Press TV.
“We can say anti-Russian sanctions are in reality anti-European
sanctions and in particular anti-German sanctions,” Manuel Ochsenreiter,
the editor-in-chief of Zuerst from Berlin said in an interview with
Press TV on Monday.“Expectations of sanctions lower the growth and optimism of the German economy,” he added.The remarks follow a survey that showed investor confidence in Germany has fallen for the ninth consecutive month amid growing concerns over the economic fallout from Russian countersanctions over the Ukrainian crisis.
Ochsenreiter said that 350,000 jobs in Germany depend on business with Russia.
He said that the geo-political crisis in Ukraine that has led to US and EU sanctions against Russia is “completely against the interest of German business.”
He added that pressure on the EU to impose sanctions on Russia is coming from the United States, which is mostly independent of Russian trade.
German Chancellor Angela Merkel in August stated that the sanctions imposed on Russia over the ongoing conflict in Ukraine must continue.
The EU and the United States have slapped several rounds of economic sanctions against Russia over Moscow’s alleged involvement in the Ukrainian crisis, with the US warning that Russia will face more sanctions if it does not change its course.
Moscow has retaliated against Western sanctions, banning most food imports from the United States and the EU. Moscow is also reportedly considering a ban on car imports and clothes from Western countries.
SC/HJL