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Sanctions on Russia would be catastrophic for many German firms: Trade body

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The Federation of German Wholesale, Foreign Trade and Services said that if economic sanctions are extended to Russia, more than 6,000 German companies doing business with Russia would suffer devastating losses, Reuters reported.

Head of the BGA exporters' body Anton Boerner told the Dortmunder Ruhr Nachrichten newspaper that "about 6,200 German companies are engaged in Russia, some of them very strongly" and for them "economic sanctions would be a real catastrophe."

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