German investment in Russia highest in decade despite sanctions

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Investments by German businesses in the Russian economy exceeded €3 billion in 2018, marking the highest level since before the financial crisis more than a decade ago, according to the Russian-German Chamber of Commerce. “Despite Western sanctions along with Russia’s retaliatory measures the volume of investments by German corporations into the Russian economy last hit a record high in 2008,” the German trade lobby said in a statement. The chairman of the chamber Matthias Schepp highlighted that apart from substantial investment in projects such as the Nord Stream 2 natural gas pipeline, Russia’s market offers great opportunities for German small and medium-sized businesses. “Companies that are well aware of the Russian market are not in a hurry to be afraid of sanctions and political problems,” Schepp said. According to the statement, the total volume of financial inflows from German investors in 2018 amounted to €3.2 billion, exceeding the forecasts by the Deutsche Bundesbank…

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