Siemens Energy to complete exit from Russia in autumn

German company Siemens Energy intends to withdraw all assets from Russia this fall, should from her reporting. The company has been operating in Russia since 1852.

Siemens Energy is expected to complete the restructuring of the Russian division of the business as early as the third quarter of 2022. “In the third quarter, Siemens Energy began restructuring its activities in Russia, which affected the result of the gas and electricity division by 0.2 billion euros,” the report says. companies.

Earlier today, the head of the company, Christian Bruch, that Siemens Energy will continue to serve Nord Stream even after a complete withdrawal from Russian assets, wrote TASS. The company will do this to ensure stable gas supplies to Europe, Bruch added.

May 12 German concern Siemens started to the procedure for terminating all production and operating activities in Russia. The company made this decision by joining the sanctions after the start of a special military operation in Ukraine.

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