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DSV: Sanctions could weaken European economy

Russia only has a small impact on DSV's combined business, but the transport group is more worried about the consequences for the fragile European economy.

Russia's trade sanctions banning the import of a long list of food items such as beef, pork, fruit, vegetables, poultry, milk, cheese and other dairy products from the EU, US, Australia, Canada and Norway will only have a moderate impact for DSV in terms of the transport group's combined business.

"This is a fairly small business area for us, so it's not going to have big direct impact on us. It's more the indirect effect in terms of the entire development of the European economy that we might be worried about," Flemming Ole Nielsen, Head of Investor Relations at DSV, tells ShippingWatch.

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