“The fact is that German companies and banks are closely connected with the US financial system, so it will be very difficult for Germany to establish a protection mechanism against the U.S. sanctions policy,” RISS expert said. The United States impose fines not only on its banks, but also on the European banking sector that violates the U.S. sanctions regime. P.Zakharov added that there are big prospects of cooperation of Moscow and Berlin. “There was a failure in doing business with Germany as a result of the aggravation of relations between Russia and the West in 2014, but in 2017 the trade turnover between the two countries increased significantly,” he noted.
P.Zakharov said that due to U.S. sanctions German companies in Russia were revising their current activities. “Germany has to hire lawyers and spend a lot of time and money on checking Russian contractors to make sure that they are not on the sanctions list. This situation will have a greater impact on the military industry and the energy sector in the future. But the business continues: for example, if earlier Siemens wanted to deliver turbines to the Crimea, but then it was forbidden to do so, now the concern can deliver its production to another Russian region without sanctions. German business is always seeking to find opportunities to cooperate with Russia,” RISS expert said.