Siemens to halt license deals with Russian companies

Baku. 21 July. REPORT.AZ/ The relations between German and Russian businesses have been seriously damaged due to German conglomerate Siemens' decision to suspend power equipment deliveries to Russian state firms.

Report informs citing the RIA Novosti, Siemens said earlier in the day that it received "credible information" that four gas turbines delivered in mid-2016 to southern Russia's Taman were "locally modified and illegally moved to Crimea." This move, Siemens said, "constitutes a blatant breach of Siemens' delivery contracts, trust and EU regulations." The company decided to annul a power plant equipment supply license agreement and suspend power equipment supplies to Russian state firms to devise new control measures.

Notably, Siemens has filed a lawsuit against Russian state firm Technopromexport, engineering subsidiary of Rostec Corporation.