German Siemens to stop industrial operations in Russia

by Vestnik Kavkaza

German multinational Siemens announced on Thursday it will exit the Russian market, joining hundreds of companies pulling out of the country due to its war on Ukraine.

“The company has started proceedings to wind down its industrial operations and all industrial business activities,” Siemens said in a statement.

The corporation, which employs around 3,000 people in Russia, had already put all new business in international deliveries to Russia and Belarus on hold after the beginning of the war in February.

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