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Handelsblatt: the USA punishes others for doing business with Russia, and they themselves invested in it the most

 

Donald Trump uses all methods to punish countries whose policies are contrary to American interests, writes Handelsblatt. This applies to Iran, China and Russia, to which the American president has a particularly dual relationship, reports usanewstoday.live.

Anti-Russian sanctions have been in effect for five years  and in Washington, first of all, they are being monitored by third countries. Otherwise, they will also face penalties, as in the situation with disputes surrounding the construction of Nord Stream 2.

At the same time, it is surprising that American enterprises themselves are by the lead in terms of investment in Russia, the publication writes, referring to UNCTAD statistics. The total amount of US investment is $39.1 billion, which is more than that of Germany, which has always had close economic ties with Russia.

According to Handelsblatt, these figures not only call into question the seriousness of the US attitude towards its own sanctions but can also have serious political consequences.

In 1998, Russia defaulted because the state was not able to service federal loan bonds, the newspaper recalls. However, now the situation is very different: according to the economic analyst Gunther Deuber, the sanctions of the EU and the USA have practically no effect. According to Deiber, those who are currently monitoring the state of the Russian financial market may have the impression that Western sanctions have already been lifted.

Russia is one of the few countries without net government debt, in addition, it has large foreign exchange reserves (about $270 billion). Russian government bonds are listed at the pre-sanction level, and the shares of the largest state-owned bank Sberbank have even grown the newspaper notes. In addition, despite the sanctions, Russia is still investing large sums abroad.

As for Russian-German economic relations, in 2018 the German business invested €3.2 billion in Russia, which is the highest figure in the last 10 years. Moreover, over the past year, the volume of Russian-German trade increased by 8.4%.

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15.09.2019
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