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Aggressive sanctions against Russia are sending financial shockwaves through Germany Germany will be battered with a wave of bankruptcies due to Ukraine-related sanctions against Russia, according to Commerzbank Chief Executive Officer Manfred Knof.

The bloc is buying Moscow’s crude via intermediaries at double the price, Radovan Viskovic told RT Oil from Russia is still entering the EU market despite Western sanctions, but it now flows through intermediaries at a much higher price, Republika Srpska Prime Minister Radovan Viskovic stated on Friday.