Berlin-Sana
German Economy Minister Robert Habeck confirmed today that his country expects the sanctions imposed by Western countries on Russia to have significant repercussions on its economy.
"The impact of sanctions and war makes us fear that even limited disruptions will have significant repercussions," Habeck said at a press conference in Berlin after talks with German economic leaders, adding that these effects are "expected and can be observed from now in part, which makes Germany It is facing a complex situation in an unprecedented way for several years.”
The minister explained that "German companies have about twenty billion euros of investments in Russia," noting that insurance companies cover only 7.4 billion euros of them.
Habeck expressed his fear of "a deflation if the German economy is no longer able to produce, and this means that the worst scenario will happen," pointing out that Berlin is concerned about providing its economy with the gas shipments it needs, especially since 55 percent of its imports in this regard come from Russia.
