Commenting on the current sanctions in the context of the Ukraine war, VDMA Executive Director Thilo Brodtmann says:

“First and foremost is the concern for the well-being of the people in Ukraine. This also gives rise to the challenge of contributing to an end to the violence with effective and consistent sanctions.

The sanctions imposed by the European Union as a result of Russia’s invasion of Ukraine in violation of international law represent a fundamental reassessment of economic and trade relations with Russia in light of Vladimir Putin’s systematic aggression. „The new supply bans on various goods to Russia affect large sections of the European mechanical and plant engineering industry. “Thilo Brodtmann, VDMA Executive Director

The new supply bans on various goods to Russia affect large sections of the European mechanical and plant engineering sector. They affect exports worth several hundred million euros.

It is now necessary to analyze the sanction conditions and their effects in detail. Counter-sanctions are also possible from the Russian side, yet it remains right to impose tough sanctions on the aggression against Ukraine. In the technology and capital goods sector, Russian manufacturers play a largely subordinate role.”