Business as usual: Why German-Russian trade ties won't die | The Dip Podcast

German companies once saw Russia as a key market, built on decades of trade, energy ties, and mutual dependence. But since the invasion of Ukraine, that relationship has unraveled. Exports have collapsed, companies have exited, and new markets are replacing old ones. And yet, a surprising narrative persists that some businesses might eventually return. Is there any truth to that?

DW’s The Dip speaks to Andreas Jahn from the German Association for Small and Medium-Sized Businesses and Russia expert John Lough about what’s really happening inside German boardrooms. They explore the sharp decline in interest, the risks companies still face, and whether doing business with Russia is fundamentally changing, or simply on pause. #dwbusiness #dwdip

Chapters:
00:00 The push to return to Russia
01:14 Behind the "return" narrative
04:18 Russian market: surface view
05:36 Collapsed German business interest
07:05 The “special” Germany-Russia relationship
10:08 The reality of doing business in Russia
13:05 Why companies stay or leave
15:10 Where German companies are going instead
15:54 Conditions for a Russian comeback
18:39 A broken relationship

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