Siemens Mobility is seeking compensation from the German authorities for investments made in Russia

The company, along with other German industrial firms, has submitted corresponding requests to the German government, as reported by the Railway Supply news portal, citing rollingstock.

Siemens Mobility previously secured its investments in Russia through investment guarantees from the German authorities, a program that concluded after Russia’s invasion of Ukraine.

Nightjet marks a new era in the development of railway travel

The company aims to receive funds equivalent to the volume of investments directed to Russia between 2006 and 2016.

Siemens is currently in contact with the German Cabinet and PwC auditors, responsible for implementing investment guarantees. No further details have been disclosed.

Siemens announced its exit from the Russian market in May 2022.

Russian courts have recently ruled in favor of several claims from the primary client, Russian Railways (RZhD), imposing penalties for contract breaches related to the maintenance of “Lastochka” electric trains (penalty: 36.7 million rubles per day) and “Sapsan” trains (penalty: 16.1 million rubles per day), as well as for the interruption of the supply of a new batch of the latter (penalty: 6 million rubles per day).

At present, Siemens’ appeals have not been successful.

Photo: Siemens Mobility

Rail business, industry, and railway technology news from Railway Supply that you might have missed:

The CRRC has mastered the production of medium-speed ammonia-diesel engines

Find the latest news of the railway industry in Eastern Europe, the former Soviet Union and the rest of the world on our page on Facebook, Twitter, LinkedIn, read Railway Supply magazine online.

Place your ads on webportal and in Railway Supply magazine. Detailed information is in Railway Supply media kit