German export to Russia drops ˆ6bn

January 26, 2015. The amount of German exports to Russia dropped by ˆ6bn because of the EU sanctions on Russia and Russia’s countersanctions, refers to the data that Chairman of the Committee on Eastern European Economic Relations Prof. Dr. Eckhard Cordes cited to Rheinische Post.

According to Cordes, export of German goods to Russia decreased by 18%, which could result in 60,000 job losses in the German economy. The official says things could get much worse in 2015.

The Committee on Eastern European Economic Relations is an influential organization which represents the interests of German companies doing business on the post-Soviet territories and in Eastern Europe.

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