According to the flash estimates, Germany’s businesses could have incurred losses at €6 billion as a result of the sanctions against Russia.
Surveys prepared for Vladimir Putin’s visit by Russia’s statistics agency read that the Russian-German sales turnover dropped 2.1% to $46.7 billion from January to August 2014 as compared to the same period in 2013. Last year, this print amounted to $74.9 billion growing 2.2% from 2012.
Nowadays, over 6,000 companies with Germany’s stakes are operating in Russia including about 800 companies with 100% Germany’s capital such as Siemens, Metro, Knauf, Volkswagen, and E. ON AG. Besides, almost 100 German companies took part in building sports facilities and infrastructure for the Olympic Games in Sochi in early 2014.