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Siemens' supplies to Russia intact despite sanctions

June 19, 2014, 15:40 UTC+3 SOCHI

The company had been operating in Russia for 161 years and no contract was affected by the sanctions, Siemens vice-president says

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SOCHI, June 19. /ITAR-TASS/. Supplies from German engineering and electronics company Siemens to Russia have not been affected by international anti-Russia sanctions and the company will continue to implement all its liabilities, Siemens vice-president Dietrich Meller told an international business forum.

“We are more than confident that the current political situation will de-escalate sooner or later. Europe and Russia are natural partners after all,” he said. Meller, also chief executive of Siemens Russia, assured delegates that no contract was affected by the sanctions.

Investment and localisation programs were being realised in full volume, Meller added. “In this respect, Siemens is Russia’s reliable partner even in the present situation,” he said, noting that the company had been operating in Russia for 161 years.

Multi-billion dollar investments in Russia’s real economy had been launched at about 10 facilities in 2010 and the program was already three-quarters complete, Meller announced.

Major projects in Russia include working with Russian Railways on Swallow and Sapsan high-speed trains and a joint venture with Russian Machines for bidding in a tender for train supplies on the Moscow Metro system.

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