The German concern Siemens will leave the Russian market due to the full-scale invasion of the Russian Federation into Ukraine. Siemens has already begun the process of terminating its production and operations.
International sanctions and potential countermeasures affect the company’s activities in Russia, in particular railway maintenance and repair.
This was announced by the company.
“We evaluate the impact on our people and will continue to support them to the best of our ability. At the same time, we provide humanitarian assistance to our colleagues and the people of Ukraine and support the calls of the world community for peace,” said the head of Siemens.
Currently, the Siemens circuit includes, in particular, operations in the field of automation and digitalization for industry, intellectual infrastructure, transport, and distributed energy systems. In 2020, the company held a spin off, as a result of which the energy division was separated into a separate Siemens Energy company (as of the end of November 2021, Siemens was the largest shareholder with a 35% share).
Earlier it became known that the international food company Vičiūnai Group hired consultants from Ernst & Young to quickly exit the Russian market.
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