Germany to Push for Exemptions From U.S. Sanctions on Russia

The Wall Street Journal reports that German leaders want the Trump administration to exempt their country’s companies from tough new U.S. sanctions on Russia.

German industrial giants including Siemens AG , Daimler AG and Volkswagen AG do business with entities tied to people subject to the sanctions. German executives say the measures could threaten long-standing joint ventures, stop banks from financing new projects in Russia, and potentially cost German industry hundreds of millions of euros.

“We have a very bad feeling about the current spiral of sanctions,” said Leif Erichsen, a spokesman for German utility Uniper SE, which is a partner in the Nord Stream 2 gas pipeline being built to connect Russia and Europe. “We hope that everyone involved will quickly realize that it is always better to de-escalate.”

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