Dutch main Damen Shipyards Group desires compensation from the federal government for Ukraine-related sanctions
The biggest Dutch shipbuilder is looking for compensation from the federal government for injury brought on by the sanctions on Russia, which prevented it from honoring numerous contracts.
The continued authorized battle, which began in Might with a swimsuit filed by Damen Shipyards Group on the district courtroom in Rotterdam, was revealed by Bloomberg on Tuesday. Firm spokesman Rick van de Weg later confirmed the pending proceedings to different media shops.
Damen is a Gorinchem-based family-owned enterprise with over 90 years of historical past, which builds all kinds of vessels from warships to luxurious yachts. Days earlier than the hostilities in Ukraine erupted in February final yr, it delivered to Russia a dredger for works within the Arctic, based on Bloomberg.
Sanctions banning most enterprise transactions with Russia, which the EU imposed in retaliation for the battle, have prevented Damen from fulfilling its obligations below a number of contracts. It additionally suspended its engineering department within the nation.
The Western sanctions have been speculated to cripple the Russian financial system and drive Moscow to concede defeat in Ukraine, however they haven’t been as environment friendly as their architects had hoped.
The G7 oil value cap, a mechanism meant to drive Russia to promote crude at or beneath $60 per barrel, doesn’t seem like working, US Treasury Secretary Janet Yellen stated final week. Russian Deputy Prime Minister Aleksandr Novak said on Tuesday that the impossibility of implementing the worth cap was obvious to Moscow from the beginning.
The EU’s determination to decouple from low cost Russian fuel undermined the competitiveness of its heavy industries, in some instances forcing energy-intensive manufacturing to close down.
However, Germany is probably going nonetheless consuming pure fuel originating in Russia, Uniper CEO Michael Lewis stated final week. The German wholesaler buys liquified pure fuel within the open market and can’t be sure about the place it comes from, he defined.
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