Dutch shipbuilder Damen Shipyards is suing the Dutch government for compensation following the imposition of sanctions against Russia, which it says has caused it to lose business. 

Damen produces industrial and military vessels, and luxury yachts but several contracts have been scrapped because of the sanctions, which were introduced last year when Russia invaded Ukraine. 

A spokesman told news agency Reuters the company had an engineering branch in Russia but this has now been closed. 

The company would not say how many contracts have been cancelled or what the financial damage is. But in March 2022, it was reported that Damen Yachting was working on two orders for Russian customers.

The Dutch government said in April 2022 it had prevented 20 yachts from leaving the country.

Fourteen of the yachts were under construction, four were undergoing maintenance and two were in winter storage, the customs department said. Two of the yachts on the list are over 100 metres long.

Specialist magazine Superyacht Times said last year Russian customers accounted for 9% of Dutch luxury yacht sales and 13.2% of boats longer than 40 metres.

As well as Damen Yachting, the other big suppliers are Heesen Yachts in Oss, Brabant, and Oceanco in Alblasserdam.

According to Bloomberg, the court papers were filed in May but no date has been set for any hearing.