Saturday, 05 August 2017 18:40

Sanctions against Russia Affect European Investments

Written by PL
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Berlin.- The German Association of Chambers of Commerce and Industry (DIHK) warned today that the new sanctions imposed by the United States on Russia affect the start-up of the infrastructure to guarantee the energy security of the European Union (EU).

 

In statements to the news agency DPA, DIHK Foreign Economy Director Volker Terrier assured that "there are major projects for energy security that might come to a standstill if German companies are not allowed to participate in gas pipe projects in Russia."

Washington's most recent sanctions against Russia, passed by Congress first, were approved by President Donald Trump last Wednesday under the pretext of acting against Moscow for its alleged intervention in the U.S. presidential election in 2016.

According to DPA, the measures are aimed at major economic sectors, including energy, and establish punishment for companies investing in other countries that contribute to Russia's capacity to build gas pipes, provide maintenance and enlarge new or old projects in that field. (PL)

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