Munich car manufacturer BMW has faced irregularities related to car exports to Russia. Internal controls revealed this, the company said in a statement.
Further sales of vehicles have been stopped. “In addition, the BMW Group has decided to dismiss the employees with primary responsibility,” the statement continued.
The company confirmed a report from “Business Insider”. Accordingly, more than 100 high-quality vehicles are said to have been brought to Russian customers from BMW’s Hannover location.
Strict embargo on car deliveries
International trade with Russia is subject to various sanctions, including from the European Union, as a result of the war of aggression against Ukraine. There is a strict embargo on the supply of cars to Russian customers.
According to BMW, companies in various sectors are affected by the fact that products from the companies in question are for sale or offered in Russia, despite their own compliance with the sanctions. This is usually achieved through so-called gray market imports. The BMW Group is trying to prevent this type of import with various measures.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
