Siemens Leaves Russia

The German company Siemens has announced its decision to leave the Russian market due to the special military operation in Ukraine. Earlier, on March 2, the comapny announced the suspension of deliveries and work on new businesses in Russia, reducing its activities to servicing existing projects.

In a statement published on May 12, the company condemned the "war in Ukraine" and announced the launch of the procedure for the termination of all production and operational activities in Russia.

"We're all moved by the war as human beings. And financial figures must take a back seat in the face of the tragedy. Nevertheless, like many other companies, we’re feeling the impact on our business." -  Roland Busch, Siemens Chief Executive told Reuters.

The statement also notes that the decision was made under the influence of the effect of the sanctions imposed on Russia:

"The comprehensive international sanctions, as well as current and potential countermeasures, impact the company’s business activities in Russia, particularly rail service and maintenance" - said in the statement.

Siemens is one of the main suppliers of power equipment to Russia. The company participates in a number of projects with Russian companies. For example, Siemens Gamesa in partnership with Enel Russia is implementing projects in the field of renewable energy. In addition, Siemens and the Sinara Group have a joint venture, Ural Locomotives LLC, which produces a series of freight mainline electric locomotives and Lastochka trains.

A number of Russian companies use the Siemens NX/Teamcenter design system. These include the Sukhoi Civil Aircraft Company, Aviadvigatel OJSC, UAZ, Kamaz PJSC and others.

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