German business group wants Berlin to offer more protection in Ukraine

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German business group wants Berlin to offer more protection in Ukraine
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German companies active in eastern Europe have called on the government in Berlin to take on more risk and provide increased security for business in Ukraine, particularly for transport

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The situation is especially acute when it comes to transport liability insurance as reinsurers have withdrawn from the market, which poses a problem for logistics companies, said Michael Harms, managing director of the German Eastern Business Association.

The association's demand follows German Economy Minister Robert Habeck's promise during a visit to Kyiv this week to provide German companies investment guarantees in Ukraine as part of reconstruction efforts. Russia's February 2022 invasion of Ukraine has caused large-scale damage."Company representatives say that these investment guarantees are necessary in order to get investment decisions through the board of directors," said Harms, who travelled with Habeck to Kyiv.

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