Contents tagged with Business in Russia

  • Siemens announces it is ceasing business operations in Russia

    Siemens AG, the German engineering giant, announced it is exiting Russia after doing business in the country for 170 years. Siemens is the latest in a long list of firms that have pulled out of Russia following its invasion of Ukraine in February.

    The company employs 3,000 people in Russia and has begun winding down its industrial operations and businesses in the country. The company took a high of $625 million in its second quarter financial statement after Russian sanctions.

    Siemens had …