Russian Court: Siemens was not deceived in turbines deal

The Moscow Arbitration Court did not invalidate the deal on the supply of Siemens turbines to Rostec's subsidiary Technopromexport, RIA Novosti reports.
The publication notes that the German concern was unable to prove fraud in the case of shipment of its turbines to the Crimea.

"In violation of the provisions of Article 65 of the Arbitration Procedure Code of the Russian Federation, the plaintiffs on the initial lawsuit did not prove that plaintiff-2 [the Siemens plant producing turbines-Ed.] had a misconception about the nature and subject matter of the contested contract. The evidence that the defendants deliberately established a false picture of the nature of the transaction - its conditions, the identity of the participants, the subject matter, and other circumstances that affected plaintiff-2’s decision to conclude the contested contract - in the materials of the case is not presented," the Court's decision states.

In summer 2017, Siemens said that four of its turbines, which had been designed for a project in Taman, were illegally delivered to the annexed Crimea. With this in mind, the concern announced its intention to break its licensing agreements with Russian companies for the supply of power plant equipment, as well as suspend deliveries under existing contracts.

  Siemens, Crimea, Russia