Oliver Hermes, the former head of Germany's influential Ost-Ausschuss der Deutschen Wirtschaft (Eastern Committee of the German Economy), became a symbol of Germany's complex and ultimately disastrous relationship with Russia. His resignation, announced amidst a rapidly shifting geopolitical landscape, marked not just the end of his tenure but also a critical turning point in the understanding of how deeply German business, and figures like Hermes himself, were intertwined with the Putin regime. The narrative surrounding Hermes is a microcosm of a larger story: how Germany Inc., seduced by the promise of lucrative deals and unfettered access to Russian markets, played a dangerous game of Russian roulette—and lost.
Hermes's departure from the Ost-Ausschuss was far from a quiet exit. It came at a time when the cracks in the façade of German-Russian economic cooperation were widening, revealing a deep-seated naiveté and, in some cases, a troubling complicity in overlooking the increasingly authoritarian nature of the Putin regime. His stated reason—to focus on navigating the new geopolitical landscape for his own company—belied a deeper reality. The new geopolitical landscape was, in large part, a direct result of Russia's actions, actions that Hermes and the Ost-Ausschuss, for years, had either downplayed or ignored.
The Ost-Ausschuss, under Hermes's leadership, served as a powerful lobby group advocating for closer economic ties with Russia. It facilitated meetings between German businesses and Russian officials, including high-level encounters with Vladimir Putin himself. The German eastern business group's cancellation of its planned March meeting with Putin, a decision made after the invasion of Ukraine, stands as a stark testament to the abrupt shift in sentiment and the untenable position Hermes and the organization found themselves in.
The narrative of "12 Germans who got played by Putin," a phrase circulating widely after the invasion, encapsulates the disillusionment felt by many in Germany. While Hermes may not have been explicitly "played" in the sense of intentional deception, he, along with many others, undoubtedly underestimated the risks associated with such close ties to a regime increasingly characterized by aggression and disregard for international norms. The belief that economic engagement would lead to liberalization and democratization in Russia proved to be a fundamental miscalculation, a dangerous gamble that cost Germany dearly in terms of its reputation, its economic stability, and its strategic security.
Hermes's own company, and his decision to step down from the Ost-Ausschuss to focus on its survival, highlights the economic fallout of this miscalculation. The costly sanctions imposed on Russia by the West have had a profound impact on German businesses with significant exposure to the Russian market. Companies like Wilo SE, a prominent player in the pump industry, faced intense scrutiny for its continued business operations in Russia. The reports of Wilo executives meeting Russian leaders in Moscow, even after the invasion, underscore the challenges faced by companies attempting to navigate the complex and morally ambiguous situation. The phrase "Wilo continues dialogue in the Russian political sphere" evokes an image of continued engagement despite growing international condemnation, a strategy that proved to be increasingly unsustainable.
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