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Danish companies struggling to get funds home from Russia

Benedicte Vagner
June 24th, 2022


This article is more than 2 years old.

The current sanctions against Russian banks have created a problem for several Danish companies; they have been unable to receive funds leftover in Russia from before the war

Danish companies struggling to get home millions still in Russia (photo: flickr/Howard Lake)

Due to sanctions on many Russian banks, some Danish companies are now unable to receive funds held in Russia.

The Danish shipping company Lauritzen Bulkers, for example, is owed 1.7 million kroner from a Russian customer for business predating the War in Ukraine.

The Russian customer would like to pay through a bank not subject to sanctions, said Lauritzen Bulkers, but the company’s Danish bank will not confirm that it will accept the transfer due to fears of coming into conflict with sanctions.

Dansk Industri, Denmark’s largest employer and business organization, has said that it has been receiving similar complaints from other Danish companies.

No light at the end of the tunnel
With companies helpless to recover funds still in Russia, a solution has been proposed – one that has already worked in Germany.

The solution, which has been recommended by Dansk Industri, calls for the Danish government to provide Danish banks with a signed document confirming the legality of transactions with non-sanctioned Russian banks.

However, Søren Møller Nielsen, the press manager of Erhvervsstyrelsen, the Danish Business Authority, has expressed that there is no legal basis for the government to involve itself in what is a private matter between banks and businesses.

Given this statement by Nielsen, made in an email to the banking interest organization Finans Danmark, it remains unclear how long Danish companies will have to wait for their money.


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A survey carried out by Megafon for TV2 has found that 71 percent of parents have handed over children to daycare in spite of them being sick.

Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

“I think it is absolutely crazy. It simply cannot be that a child goes to school sick and plays with lots of other children. Then we are faced with the fact that they will infect the whole institution,” said FOLA chair Signe Nielsen.

Pill pushers
At the Børnehuset daycare institution in Silkeborg a meeting was called where parents were implored not to bring their sick children to school.

At Børnehuset there are fears that parents prefer to pack their kids off with a pill without informing teachers.

“We occasionally have children who that they have had a pill for breakfast,” said headteacher Susanne Bødker. “You might think that it is a Panodil more than a vitamin pill, if it is a child who has just been sick, for example.”

Parents sick and tired
Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”