01:28 GMT09 July 2020
Listen Live
    Get short URL
    0 277

    The company lost 120 million euro after German Minister for Economic Affairs prohibited Rheinmetall exports to Russia.

    The German military company Rheinmetall called on the federal government to compensate its losses as result of a prohibited deal with Russia, according to the German newspaper "Süddeutsche Zeitung."

    Last year, German Minister for Economic Affairs, Siegmar Gabriel, banned the construction of a military training center in Russia as well as the delivery of all necessary equipment.

    The establishment of the military training center was agreed upon in 2011. The deal was approved by German authorities and all equipment was produced and prepared for supply.

    The delivery was prohibited at the last minute as a means of pressuring Russia in response to the the events in Ukrainian events. Thus, the German Minister of Economic Affairs went even beyond EU sanctions against Russia, the newspaper writes, causing severe financial damage to the German company.

    The group has asked for compensation in the amount of 120 million euros. The application is currently being considered by German authorities.


    Germany Changes Stance on Greek Bailout Program
    Germany's Irresponsible Policies Put Eurozone at Risk of Dismantling
    Germany Stops Arms Exports to Saudi Arabia Amid Instability in Region
    financial damage, deal, Rheinmetall, Germany, Russia
    Community standardsDiscussion