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I've just been at a conference where some high-up guy from germany was talking about the effect of sanctions... russia used to sell wood pulp to germany, german factories would produce paper products and then sell a lot of them back to russia.

Then sanctions came, no more very cheap wood pulp for the german industry, and after a year of sanctions, the russians built (i think) 4 large paper factories, so even after the sanctions end, that business is not coming back to germany.

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