Largest Dutch shipbuilder sues government over losses linked to Russian sanctions

by MMC
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Dutch company seeking compensation in case against government. “Damen” declares having “suffered damage” following the sanctions, Bloomberg informs.

The Netherlands’ largest shipbuilder is suing the Dutch government over losses inflicted on its business by sanctions against Russia, a rare case of a European company taking its grievances to court over the fallout from Russia’s invasion. ‘Ukraine.

Damen Shipyards Group NV is seeking compensation because it is “suffering damage” from the sanctions, company spokesman Rick van de Weg told Bloomberg. The case has not been made public until now.

“Before the sanctions, Damen had signed contracts with buyers of Russian ships, and after the invasion of Ukraine, the Dutch government decided that such contracts could not be honored by the Dutch business community,” he said. he declared by email. “The government has not offered compensation to Damen for these damages. »

The Dutch Foreign Ministry, responsible for overseeing sanctions in the country, declined to comment. As a member of the European Union, the Netherlands must comply with all restrictions imposed by the bloc.

The legal challenge will add a new twist to the legal battles unfolding around the sanctions by drawing attention to the damaging consequences for companies that supplied a market once considered one of the most promising in the emerging world.

Damen Shipyards is a Dutch family business founded in 1927 which builds a range of vessels, from warships to dredgers.

It also sells luxury yachts to the ultra-rich, including prominent Russian businessmen. The company would not comment on its customers.

The war “had a major impact” on the company, according to a statement released last year. A week after the invasion, Damen said it had suspended the delivery of ships and the signing of new contracts with Russian and Belarusian customers.

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