Russia will not limit trade with Europe; feels sanctions

Alexey Ulyukaev, Minister of Economic Development of the Russian Federation said in an interview with Frankfurter Allgemeine Zeitung that Russia is feeling the sanctions that have been placed upon her and that it does not seek to limit its trade with Europe in favor of ties with China. "Our trade with Europe is worth $430 billion, while trade with China is worth $90 billion," said Ulyukaev. To counter the current imbalance, Russia will seek to augment it by increasing trade with China, but does not want to cut ties with Europe. The minister stressed good relations with German automotive and energy sector companies. The sanctions have had a negative impact and resulted in limited access to capital markets, the fleeing of capital, a disadvantageous currency exchange rate and inflation, said the minister, as reported by PAP.