Siemens announced that it leaves the Russian market
The corresponding statement was published today on the company’s website. “The company has begun the procedure for terminating its production activities and all related business activities,” it says.
It is reported by the railway magazine Railway Supply with reference to Siemens.
It was also noted that comprehensive international sanctions, as well as current and potential countermeasures, affect the company’s commercial activities in Russia, especially the service and maintenance of railway rolling stock.
The financial implications of this decision are scheduled to be announced today as part of the publication of the financial statements for the 1st calendar quarter of 2022.
In early March, the company announced the suspension of work on new projects and international deliveries to Russia, but planned to continue maintenance “in strict accordance with the sanctions.”
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