Cyprus Mail
Business

Europe feels sting in the tail of Russia sanctions

In August, EU exports of machinery and transport equipment such as cars and tractors fell 23 percent compared to July

By Robin Emmott

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.

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