Multinationals prepare for downward Russia business spiral

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The EU has finally put its foot down about Russia’s involvement in Ukraine. It has decided to restrict the export of equipment for the oil industry and forbid the sale of machinery, electronics and other civilian products with potential military uses. This will affect the freight industry and manufacturers such as Siemens, as this article shows, as well as indirectly affect other sectors such as automotive makers. Essentially, foreign companies can expect their Russian business to decline.