Dombrovskis: Russia’s war in Ukraine harms American companies

The war in Russia against Ukraine is harming American businesses, which have heavily invested in Europe, and their profits are affected by the uncertainty created by Moscow’s aggression, said European Commissioner for Economy and Productivity Valdis Dombrovskis today.

Speaking at the American Enterprise Institute in Washington, Dombrovskis stated that in 2023, U.S. assets in Europe were valued at approximately $19.2 trillion, accounting for about 64% of all foreign assets of American companies worldwide. Sales from the European subsidiaries of American companies amounted to $3.9 trillion.

“For U.S. corporate interests, Europe – as a market, as a multitude of assets, and as a critical link in integrated supply chains – is simply too big to ignore,” Dombrovskis said in his speech.
The European Union considers Russia’s full-scale invasion of Ukraine since February 2022 a threat to its security and has significantly intensified its defense efforts to prevent a potential Russian attack.
“The aggression of (Russian President Vladimir) Putin, his threats, his brutal attacks with rockets and Shahed drones against civilians, his hybrid attacks on critical infrastructure, and so on, are not only atrocious crimes and moral harm, but they are also harming businesses,” Dombrovskis said.
“As a source of deep uncertainty, they ultimately affect net profits. This is a critical parameter that U.S. foreign policy makers need to keep in mind,” he said.
Dombrovskis’ comments come as the EU seeks to persuade the U.S. to increase pressure on Russia through the imposition of more sanctions, which should be commensurate with the sanctions already imposed by the EU on Moscow through 18 packages of measures since February 2022.
The 19th sanctions package from Europe is being prepared. (14/10/25)