Ukraine war
Siemens withdraws from Russia
Siemens will withdraw completely from Russia and leave the country entirely. This is expected to have an impact on business results, with the rail service and maintenance business being particularly affected.
Comprehensive international sanctions and the current and potential countermeasures are impacting the company's business activities in Russia. After the outbreak of the war, Siemens stopped all new business with and international deliveries to Russia and Belarus, and has now announced its complete withdrawal from Russia. The business units will manage the winding down of their activities in an orderly process - in line with regulatory requirements and international sanctions.
The official statement
"We condemn the war in Ukraine and have decided to end our industrial business activities in Russia in an orderly process," says Roland Busch, CEO of Siemens AG. "This decision was not an easy one for us, as we have a duty of care towards our employees and long-standing customer relationships in a market in which we have been active for around 170 years. We are currently assessing the impact on our workforce and will continue to support them to the best of our ability. At the same time, we are providing humanitarian aid for our colleagues in Ukraine and for the Ukrainian people and, together with the international community, are calling for peace."
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