EU Urges European Companies to Leave Russia as Soon as Possible

In its new 15th package of sanctions against Russia, approved by the EU Foreign Affairs Council, the European Union has provided for a number of measures to protect European companies and urged them to leave the Russian market as soon as possible.

This is reported on the website of the European Council, Ukrinform reports.

It is noted that the EU has extended the validity period for some legal exemptions that are necessary for European companies to leave Russia.

‘Due to the risks of doing business in Russia, EU operators should consider winding down their business in Russia and/or not opening new businesses there. This extension of the divestment exemptions is necessary to enable EU operators to exit the Russian market as soon as possible. The extended exemptions are granted by Member States on a case-by-case basis and aim to ensure an orderly exit process (from Russia), which would not have been possible without the extension of these deadlines,’ the statement said.

In addition, the 15th EU sanctions package provides for the exemption of European companies from the obligation to pay fines that may be imposed by the Russian authorities against such European companies as a result of their withdrawal from the Russian market.