German industrial giant Siemens will withdraw from a Russian joint venture after discovering that four of its gas turbines were illegally shipped to Crimea.
The company will also halt deliveries of power generation equipment to Russian state-controlled customers for the “time being”.
Siemens confirmed that it had received “credible information” that its turbines had been diverted from the original destination, in breach of EU sanctions against Russia.
The four gas turbines in question had been delivered for a project in Taman, southern Russia in 2016.
However, Siemens said the equipment had since been locally modified and shifted to Crimea which it said …read more
Source: EU Today
