Euler Hermes Deutschland (Hamburg, Germany):

A. Stephan, e-mail: antje.stephan@eulerhermes.com

After termination of the “cold war” and Balkan crisis there was a long relatively quiet period, so it was really impossible to imagine the new war conflict in Europe, accompanied by economic sanctions. It was impossible until 2014. The current problems of German economy applying to German-Russian trade relations is analyzed in this paper, among them: Germany dependence on raw materials import, fall of Russian rouble exchange rate, too high inflation in Russia, serious danger for the Russian banks, strong Russia dependence on oil prices. It is concluded that German enterprises still believe in collaboration with Russian partners, however, this way is difficult at present time and includes many risks that have to be taken into account.