EU recommends European firms to withdraw from Russian market as soon as possible
Date
12/17/2024 1:21:15 AM
(MENAFN) The European Union, in the 15th sanctions package agreed by the EU Foreign Affairs Council, presented actions to protect European firms and called on them to withdraw from Russian market as fast as they can. This is declared on the website of the European Council, Ukrinform stated.
The EU extended the timeline for some legal exemptions essential for European firms to withdraw from Russia.
"Because of the risks of maintaining business activities in Russia, EU operators should consider winding down businesses in Russia and/or not to start new businesses there. The exceptional extension of the divestment derogations is necessary to enable EU operators to exit as swiftly as possible from the Russian market. The extended derogations are granted on a case-by-case-basis by member states and focused on allowing an orderly divestment process, which would not be possible without the extension of these deadlines," the statement says.
Moreover, the 15th sanctions package frees European firms from paying fines that may be implement by Russian governments as a result of their withdrawal from the Russian market.
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