Every fourth German export company suffers – according to the German Industry and Trade Chamber (DIHK) under various stringent sanctions imposed by the EU and the U.S. against Russia.
“This affects about one in four German companies which are active abroad”, said DIHKs director of foreign trade, Volker Treier, to the newspaper “Rheinische Post” (Düsseldorf).
Especially problematic is it for German companies that have connections at the same time with Russia and the United States. Because of different sanctions imposed by the U.S. and the EU, they must look into almost all of their current business.
“German companies with both Russian and American business must review their businesses regarding various sanctions regulations of the U.S. and the EU and must take them into account in the future” said Treier.