35. Trade liabilities

Trade liabilities declined by €373 million, from €3,572 million to €3,199 million.

decreased trade payables by €184 million, which mainly resulted from the Russian rouble (€65 million), the Turkish lira (€65 million) and the Ukrainian hryvnia (€17 million). Furthermore, changes in payment terms and lower purchasing volumes had a reducing effect on trade payables.

Currency effects
Currency effects result from situations where the same amount of currency units is translated into another currency at differing exchange rates.