(MENAFN) According to German Lawmaker Uwe Schulz, the European Union's biggest economy is facing greater economic collapse and industrial decline as a consequence of the bloc's restrictions strategy towards Russia.
Based on a declaration on the site of the right-wing AfD group, of which Schulz is a participant, the harsh sanctions have not only failed to damage Russia, but have also decimated the German economy.
"Sanctions against Russia and economic measures imposed by the ruling Traffic Light Coalition [the Social Democratic Party of Germany, the Greens, and the Free Democratic Party] are leading Germany and its economic activity straight to de-industrialization," the lawmaker claimed.
He also said it was “not surprising that in 2022 the Russian Federation displaced Germany from fifth place in the ranking of the world's leading economies.”
Despite restrictions, Russia remained amongst the world's 5 biggest economies and the biggest among European nations in regard to purchasing power parity (PPP) at the close of last year, according to the most recent World Economics report. Due to the figures, Russia has surpassed Germany's USD5 trillion GDP in terms of purchasing power parity.
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