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‘Sanctions would threaten Russian economy’

Berlin - A trade conflict with Russia resulting from the current Ukraine crisis would be painful for Germany but it would be life-threatening for Russia's economy, Germany's BGA trade association said on Wednesday.

“All in all, we are optimistic about foreign business with large parts of the world. Unfortunately, that is not true for business with Russia,” BGA said in a statement.

The trade association said it expected exports to grow by 3 percent this year and imports to expand by 2 percent, but added these forecasts would quickly become “waste paper” if the crisis in Crimea escalated further. - Reuters

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