According to a spokesman, the company does not want to speculate on the possible effects of the war, since only theoretical considerations can be made at the moment. However, sanctions could also hit Claas hard: On the one hand, Rosselkhozbank, Russia’s agricultural development bank, is one of the most important financiers for the purchase of agricultural machinery in Russia. On the very first day of the war with Ukraine, Rosselkhozbank was included in the list of US-sanctioned Russian banks.
Other countries are likely to follow this example. The sanctions could also jeopardize further plans to increase Claas production in Russia. For example, the Russian truck manufacturer Kamaz recently forged a partnership with Claas. According to this, Russian engines could be used in the Claas combine harvesters. Nevertheless, as a subsidiary of the state-owned Rostei Holding, Kamaz is now also in the risk zone for sanctions. Daimler Truck has already started cutting its own ties with Kamaz. The joint production has been stopped since the beginning of the week. The truck builder has withdrawn its two representatives from the Kamaz board of directors – and according to the “Handelsblatt” is considering how to get rid of its stake in the Russian company. Kamaz also manufactures Russian war equipment.
Also read: These companies are now moving away from Russia
Assistance: Jannik Deters
Here you will find all articles from the category “Economy from above”
The column is created in cooperation with the earth observation start-up LiveEO – an investment by DvH Ventures. WirtschaftsWoche is part of DvH Medien, which also includes DvH Ventures.