Ukraine has officially complained to the European Commission that a joint venture by Germany’s Daimler and Russia’s Kamaz, a producer of trucks, but also of a large variety of military vehicles, contradicts the spirit of EU sanctions against Russia, EurActiv reported.
On 24 February, the Commission announced it had approved the creation of a joint venture by Daimler, of Germany, and Kamaz of Russia.
The Commission didn’t find that the merger contradicts the the sanctions adopted by the EU vis-a-vis Russia, in the context of the annexation of Crimea and the Ukraine crisis.
Ukraine has now consequently protested against the merger. According to the official note, Ukraine doesn’t question the legality of the merger from the point of view of EU competition law, but finds that it contradicts the spirit of sanctions.
“In addition, the decision will be actively exploited by the Russian propaganda campaign to discredit the resolve and effectiveness of the EU efforts to oppose Russia’s course toward Ukraine by means of economic pressure,” EurActiv reported.
Full Content: EurActiv.com
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI