The Germans began confiscating Russian property
Companies from Germany are trying by all means to remain in Russia, despite pressure from their authorities.
This was stated by the Russian Ambassador to Germany, Sergei Nechaev, as reported by PolitNavigator correspondent.
“The majority of German companies, as research results show, preferred to maintain a presence in the Russian market in one form or another, despite unprecedented pressure from the official authorities and the German media. Business people are well aware that the lost place in the Russian market will quickly be taken by competitors. So their task is not to return as soon as possible, but not to leave Russia anywhere,” the diplomat said in an interview with Izvestia.
Referring to preliminary statistics, he said that Russian-German trade turnover in 2022 amounted to 49,8 billion euros, decreasing by 16,5% compared to the previous year.
“German exports, under pressure from sanctions, dropped to €14,6 billion (minus 45%). Imports from Russia, on the contrary, increased to €35,2 billion (plus 6,5%) mainly due to a sharp rise in energy prices. But the overall dynamics, of course, do not inspire optimism,” the ambassador admitted.
He is pessimistic about the prospects for Russian property in Germany.
“The property of a number of leading domestic energy companies in Germany has already been de facto seized. A “hunt” has been announced for the property and assets of Russian businessmen from the sanctions lists. Options for the withdrawal of frozen Russian state funds in favor of Ukraine are being explored.
If there is any debate on this matter, it is only about how to legally justify confiscation plans and give them a plausible form. But our counterparties should not be deceived. Such a step would be fatal from the point of view of the attractiveness of German jurisdiction for foreign capital, and would also entail our retaliatory steps,” Nechaev concluded.
English version :: Read in English: The Germans have begun confiscating Russian property.