{"id":13625,"date":"2022-05-13T09:26:57","date_gmt":"2022-05-13T09:26:57","guid":{"rendered":"https:\/\/harchi90.com\/siemens-the-german-conglomerate-is-leaving-russia\/"},"modified":"2022-05-13T09:26:57","modified_gmt":"2022-05-13T09:26:57","slug":"siemens-the-german-conglomerate-is-leaving-russia","status":"publish","type":"post","link":"https:\/\/harchi90.com\/siemens-the-german-conglomerate-is-leaving-russia\/","title":{"rendered":"Siemens, the German Conglomerate, Is Leaving Russia"},"content":{"rendered":"
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The German electronics giant Siemens is exiting Russia after about 170 years of business there, the latest in a long list of companies to pull out of the country since its invasion of Ukraine in February.<\/p>\n

The company, which has 3,000 employees in Russia, said on Thursday that it was winding down all its industrial operations and business. In an accompanying financial statement, Siemens said that in its second quarter it took a hit of 0.6 billion euros, or about $ 625 million, after Russian sanctions.<\/p>\n

Siemens had announced in March that it was pausing its business in Russia while the company analyzed \u201cthe full implication of all sanctions\u201d that had been placed on the country by Western governments. But at the time it said it would continue local service and maintenance for that business.<\/p>\n

The conglomerate is among the Western companies with longtime business ties to Russia: Both Siemens and Deutsche Bank have been operating there since the late 19th century.<\/p>\n<\/div>\n