After Western countries imposed sanctions against the Russian Federation, many foreign brands decided to sell their business in Russia.
Divisions of Siemens and Volkswagen approached the German government with a request for compensation for financial losses in Russia. FAZ reported this on Monday, December 11.
The representatives of the companies explained their initiative by their desire to take advantage of the guarantee mechanism from the German government.
“Like many other German companies, Siemens has obtained investments in Russia by using the instrument of investment guarantees from the federal government,” said a representative of Siemens Mobility.
A Volkswagen Bank representative also noted that compensation proceedings are ongoing, but declined to provide other details.
It was reported that in mid-November, the German government received 16 requests from 8 companies that decided to take advantage of the investment guarantees due to the departure from Russia, with a total of 2.8 billion euros.
We remind you that in March, Binance banned dollar and euro transactions for Russians. This decision is explained by the restrictions within the tenth package of EU sanctions against the Russian Federation.
In September, it became known that the Binance exchange decided to leave the Russian market, and in November, Binance announced that it was blocking deposits in rubles.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.