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German companies are afraid of expropriation in Russia

Production by VW at the Kaluga plant

The car company still hopes to be able to restart the currently dormant production. The threat of expropriation by the Russian government causes unrest.

(Foto: Bloomberg/Getty Images)

Frankfurt, Dusseldorf, Munich, Stockholm It is a special truck load that rolled onto the Lufthansa Technik site at Hamburg Airport last Wednesday. A truck brings aircraft spare parts that the Lufthansa subsidiary has reclaimed from customers in Russia. It could be the last load to find its way out of Russia.

It remains to be seen to what extent the rumors about the nationalization of foreign property in Russia will come true, says Lufthansa Technik boss Johannes Bussmann: “We have to expect that this material will be expropriated in the event of nationalization.”

For several days, the Russian government has been threatening to expropriate assets from foreign companies that have withdrawn from Russia because of the Ukraine war. The Russian Prosecutor General’s Office followed suit on Friday. It will be checked whether the companies are complying with their obligations towards Russian workers or whether there are any signs of deliberate or sham bankruptcies.

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