FT: punishment against Russia already had a negative impact on the European business
The crisis in Ukraine and economic sanctions against Russia negatively affect European business, writes on Thursday print edition of the financial times referring to the opinion of the authorized leading organizations in the Old world.
Authorized business circles of Europe have expressed their opinion on the background of the adoption of a package of sectoral sanctions against Russia, which on Thursday were finally approved by the EU.
Shares of German Adidas, the world's second producer of sports equipment, fell by 15% once the Company warned about a reduction in profits and said that it would speed up the closure of its outlets in the Russian Federation due to the risk of decrease in consumer spending in the region. The automaker Volkswagen said that in the first six months of this year sales of cars in Russia fell by 8% comparing with the same period a year before.
Metro group, the second largest retailer in the Eurozone, said that events in Russia and pose risks to the organization, which is experiencing a sharp drop in sales in Ukraine.
Concerns about the business climate in the EU after the introduction of the new penal also expressed managers of industrial Siemens, one of the largest Central European credit institutions Erste Group and machine-building concern VDMA.
The Council of the EU on behalf of the European Union on Thursday finally approved economic sanctions against the Russian Federation, which limit the access of Russian state-owned banks - Sberbank, VTB, Gazprombank, Vnesheconombank and Rosselkhozbank to the means of European investors, prohibit companies from the EU to supply equipment for the Russian oil and impose an embargo on fresh contracts with Russia on arms trade.