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Trade   Significant damage to trade

German energy giant Wintershall urges removal of Russia bans

WintershallGermany’s largest crude oil and natural gas producer has called for removing sanctions imposed on Russia over the eastern Ukraine crisis.

Mario Mehren, the chief executive officer of Wintershall, warned in an interview that the sanctions against Russia were causing significant damage to trade.

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Mehren added that there needed to be an examination of how to lift the sanctions. He specifically brought into spotlight a similar appeal that had been previously made by former German Foreign Minister Frank-Walter Steinmeier.

Speaking in an interview with German business daily Handelsblatt, Mehren emphasized that the punitive measures had undermined both the Russian economy and trade between Russia and Europe. Nevertheless, he said, but no steps have been made toward solving the political crisis, based on a report by the website of Russia Today.

Mehren further warned that Europe might lose Russia’s partnership if the sanctions remain in force. Moscow “is starting to lose patience” and may turn its back on the bloc, RT.com quoted him as saying in a report that was also carried by Russia’s RIA Novosti news agency.

He also urged European officials to make it clear to Russia that the sanctions would be pulled back if there is progress in solving the Ukrainian crisis.




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