Dombrovskis: Russia-Ukraine War Hurts US Companies

European Commissioner Valdis Dombrovskis stated that Russia's war in Ukraine is negatively impacting US companies with significant investments in Europe.

Speaking at the American Enterprise Institute in Washington, Dombrovskis highlighted that US assets in Europe amounted to $19.2 trillion in 2023, representing 64% of total foreign assets of US companies worldwide. Sales from European subsidiaries totaled $3.9 trillion.

Dombrovskis emphasized that the EU considers Russia's invasion of Ukraine a threat and has strengthened its defense efforts. He also stressed that Vladimir Putin's aggression and attacks are negatively impacting business profits.

Dombrovskis's comments come as the EU seeks to increase pressure on Russia through sanctions, with a 19th package of sanctions under preparation.

Source: AΠE-MΠE-Reuters