Ukraine war
VDMA: "Sanctions affect large parts of the mechanical and plant engineering industry"
Commenting on the current sanctions in the context of the war in Ukraine, VDMA Managing Director Thilo Brodtmann says: "First and foremost, we are concerned about the well-being of the people in Ukraine. This also results in the challenge of contributing to an end to the violence with effective and consistent sanctions.
The sanctions imposed by the European Union following the Russian invasion of Ukraine in violation of international law mean a fundamental reassessment of economic and trade relations with Russia in the light of Vladimir Putin's systematic aggression.
The new supply bans for various goods to Russia affect large parts of the European mechanical and plant engineering industry. They affect exports with a volume of several hundred million euros.
The conditions of the sanctions and their effects now need to be analyzed in detail.
Counter-sanctions are also possible from the Russian side, but it remains right to sanction the aggression against Ukraine severely. Russian manufacturers play a largely subordinate role in the technology and capital goods sector."
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