Around a half of German businesses polled by one of the nation’s largest economic think tanks, the Ifo Institute, want the EU to lift sanctions against Russia, as the restrictions have hit the German industrial sector hard.
The punitive penalties resulted in a greater bureaucratic burden which hinders business with Russia for nearly 40 percent of the 862 companies polled by the Munich-based institute, while over a third of them had to deal with extra controls. Additionally, around 20 percent of the firms said that they felt the impact of trade bans and restrictions on the financing sector, according to the Ifo results.
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