International sanctions center to help businesses seek damages in court
MOSCOW, May 22 (RAPSI) – The International Sanctions Analysis Center will help countries and businesses count and seek compensation for damages caused by sanctions in the international arbitration, the Modern Diplomacy Development Foundation’s press service reports Wednesday.
Sanctioned states and businesses as well as their partners are both interested in lifting the restrictions, the news release reads.
According to the Bundestag member Robby Schlund, German citizens, firstly medium business, have seriously suffered from anti-Russian sanctions, which were forced on Germany by the European Union and USA. These measures hurt entrepreneurs and reduced earnings of the Germans, he said after signing the memorandum on cooperation with the Foundation. The Germans are interested in lifting sanctions and recovering damages and losses, he added.
The Internationals Sanctions Analysis Center’s working group includes lawmakers, economists, bank top managers, ex-court employees and lawyers from Austria, US, Russia, Germany and other countries, according to the Modern Diplomacy Development Foundation’s statement reads. It is also expected that similar agreements will be signed with leading experts of France, Italy, Poland, Switzerland, Montenegro, Serbia and others, the statement reads.