Siemens and Volkswagen demand compensation from the German government for investments in Russia
Kyiv • UNN
Siemens and Volkswagen have asked the German government to compensate for investment losses in Russia caused by sanctions and the withdrawal of foreign companies.
After Western countries imposed sanctions on Russia, a number of foreign brands decided to sell their business in Russia. In particular, the divisions of of Siemens and Volkswagen have applied to the German government for compensation for financial losses in Russia. This was reported by Deutsche Welle, reports UNN.
Details
Representatives of the companies explained their initiative by the desire to to take advantage of the German government's guarantee mechanism.
Like many other German companies, Siemens has secured its investments in Russia by resorting to the instrument of investment guarantees from the 12] A representative of Siemens Mobility said. [A Volkswagen Bank spokesperson also noted that discussions on compensation are ongoing. compensation is ongoing, but declined to provide further details.It is reported that as of mid-November, the German government German government has received 16 requests from 8 companies that decided to use investment guarantees due to the withdrawal from Russia for a total of 2.8 billion euros. euros.
