Vladimir Putin takes control of the DMG Mori factory in Ulyanovsk, Russia. The German-Japanese mechanical engineering company is now demanding from the federal government.
The company itself announced that it had already stopped all activities in Russia in spring 2022 - almost at the beginning of the Ukraine war. "At the moment the impression is given that we have broken our promise," said a company spokesman. "We reject it with all our might," said a spokesman for the company in Germany. "This accusation against us is 100 percent false and we reject it," he added. "We are not interested in making money in Russia." The company had received an investment guarantee from the German federal government to protect its direct investments abroad against financial losses caused by political risks. According to the Federal Ministry for Economic Affairs, Germany had guaranteed around 28.5 billion euros in 2023 alone to protect such investments.