German firms would back Russian sanctions, business leader says

Eckhardt Cordes acknolwledged there would be a "price to pay."
By Ed Adamczyk Follow @adamczyk_ed Contact the Author   |   July 25, 2014 at 3:44 PM
| License Photo

BERLIN , July 25 (UPI) -- German industries would support tougher sanctions against Russia, the leader of a German business organization said Friday.

Eckhardt Cordes, chairman of the Committee on Eastern European Economic Relations, an industry lobbyist group representing 6,000 German companies doing business with Russia, noted sanctions proposed by the European Union would harm German businesses but, "If there is a price to pay then we will pay it," adding his group would support additional sanctions "100 percent."

The group previously voiced concern over lost German jobs if additional sanctions were applied to Russia, but Cordes said the situation had changed with the crash, in rebel-held Ukrainian territory, of Malaysia Airlines Flight 17 on July 17.

"If (Russian President Vladimir) Putin continues along this path then this is not the path of German industry. It is now urgently necessary that he asserts his influence over the separatists, and if he doesn't have any influence than he better get some," Cordes said in an interview.

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