Germany’s biggest firms won’t return to Russia “under any circumstances”, DW reveals
Pravda Ukraine
Germany’s largest firms have no intention of returning to Russia, even with the possible end of Moscow’s war against Ukraine and the removal of sanctions.
Source: Deutsche Welle, a German international broadcaster and media outlet
Details: The Kyiv School of Economics estimates that 68 out of 352 German companies have fully exited Russia, while the remaining 204 are either continuing operations or have limited or frozen their activities in the country.
Deutsche Welle asked German companies that have either left or remained in Russia whether their plans for the Russian market had changed in response to shifts in the rhetoric of US President Donald Trump’s administration.
“We cannot make assumptions about the future, but no involvement in Russia is currently foreseen,” Siemens replied.
Before exiting the Russian Federation, the company employed approximately 2,700 people in Russia and had a turnover of €834 million in 2021. It left Russia after 170 years of operations in the country.
Adidas did not officially withdraw from Russia, but following the outbreak of the full-scale war, it closed its stores, halted online sales and ended its sponsorship activities in the country. In response to the new negotiations, the company stated that “nothing has changed” in its decision.
An Adidas representative admitted during a presentation in early March that the company does not think about the Russian market even “for a second”.
Volkswagen also stated that the company “has no plans to return to the Russian market at the moment”, adding that it does not comment on “any future scenarios or possibilities”.
A representative from Bosch remarked that the company has no such plans for now and that it is “too early” to discuss the Russian market.
Trumpf, one of the world’s largest machine tool manufacturers, announced it permanently exited Russia in April 2024, stating that it “is not currently considering a return under any circumstances”.
Background: Following the intensification of negotiations between the US and Russia, a Western company received calls with a proposal to return to the Russian market.
Support Ukrainska Pravda on Patreon!