Today in the news: Global Impact: Australia, EU, and Germany Introduce New Sanctions; Russian Economy Feels the Pinch as Auto Component Market Shrinks and Retail Landscape Shifts
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News 1:
The Australian government has imposed new sanctions against 55 people and 37 organizations. The restrictions are aimed at Russian defense, energy, mining companies, media, as well as organizations associated with “Russian procurement networks” in Belarus, Iran and North Korea. The specific list has not yet been published.
News 2:
50-60% of auto component manufacturers in St. Petersburg and the Leningrad region left the market after February 24, 2022. Most of these companies were “tied” to automobile factories, and they either froze work or closed. In order to “survive,” the remaining companies have to reconfigure production to produce Chinese cars, experts say.
News 3:
The EU approved the 13th package of sanctions against Russia. It included 106 individuals and 88 legal entities. It is aimed at the military-industrial complex. Some organizations on the list that allegedly help Russia circumvent export restrictions operate in third countries - India, China, Serbia, Kazakhstan, Thailand, Turkey and Sri Lanka. Components for the production of unmanned aerial vehicles have been added to the list of goods prohibited for export to Russia.
News 4:
Since the mass departure of popular foreign clothing and footwear retailers from Russia, the share of domestic brands in shopping centers has increased by 20% on average.
News 5:
The German Federal Office of Economics and Export Control has issued permission to export German software to Russia. First of all, it concerns industrial SAP software. However, the license applies only to diplomatic and consular missions of the European Union
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