Daimler Truck has been a strategical partner of KamAZ since 2008, holding 15% of the shares and being co-owner of a joint venture producing a truck cab frame.The German company, which is the largest truck maker in the world, became the 33rd entity added to the Russian sanction list from May 2022 in consequence to western restrictions imposed in connection with the conflict in Ukraine.Under Russian sanctions, persons and entities are prohibited from operating with these companies, including the execution of existing contracts or financial transactions that benefit them.
However, the government may grant temporary exemptions for circumstantial transactions in individual cases.In March 2022, after the escalation of war activities in Ukraine, many German car manufacturers, including Daimler Truck, suspended operations in Russia.
Although Daimler initially did not decide to full retreat from the market, the company yet withdrew from local operations.
The vacuum left by German manufacturers was mostly filled by Chinese car manufacturers.
Moscow has repeatedly condemned western sanctions as illegal and ineffective in the isolation of the Russian economy.The company announced the suspension of its Russian operations 3 years ago.
In February 2024, the CEO of KamAZ Sergei Komgin confirmed that Daimler had sold his shares and had not participated in the company's activities since the beginning of 2022. Daimler Truck is simply a key supplier to the German army, in peculiar through its Mercedes-Benz peculiar Trucks department, which supplies a number of vehicles for military use.
The last large order from the German Armed Forces (Bundeswehry) includes the supply of Mercedes-Benz Arocs logistics vehicles with all-wheel drive and peculiar military equipment.Moscow's sanctions appear erstwhile German Chancellor Friedrich Merz adopts an increasingly unconcerned attitude towards Russia.
Since taking office, he has called for increased military support for Kiev and advocated Ukraine's approval to usage long-range missiles without restrictions – including deep blows in Russia.The Kremlin accused Berlin of escalating tensions and warned that specified actions could drag Germany into a direct confrontation with Moscow.
Translated from Google Translator
source:https://www.rt.com/russia/620822-daimler-truck-sanctions/
