- EU exports to Russia fall sharply after sanctions imposed
- Companies need export permits that take time
- Companies worried about losing business to China, others
BRUSSELS, Nov 26 (Reuters) – At a technology fair in Moscow last month, European executives faced the new reality of doing business in Russia since the West imposed sanctions: the number of companies at the international showcase had shrunk by half from a year ago.
“The impact on business couldn’t be clearer. Fewer stands, fewer companies,” said Mark Bultinck, a sales executive for Belgian digital screen maker Barco, which had a booth at the annual expo for the audiovisual industry.
The impact of the sanctions was already clear to Barco.
The company lost Russia’s biggest shipbuilder as a client when the United States and the European…
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