Pause operations: company temporarily curtailing operations while keeping return options open
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General Electric Company (GE) is an American multinational conglomerate. The company primarily operates in sectors including aviation, power, renewable energy, digital industry.
Pause operations: company temporarily curtailing operations while keeping return options open
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Global 500GE local headquarters in Moscow. Plant for the repair of gas turbines and other equipment in the Kaluga region. On March 9, 2022, against the backdrop of the entry of Russian troops into Ukraine, General Electric announced the suspension of operations in Russia. At the same time, the company stated that they intend to continue servicing gas turbines in Russia. However, on June 18, expanded US sanctions came into force, prohibiting American companies from providing engineering services in Russia. The next day, June 19, GE "without explanation" stopped servicing gas turbines at Russian TPPs.
General Electric Co said it is suspending operations in Russia, with the exception of providing essential medical equipment and supporting existing power services in the region. "We have suspended operations in Russia, with the exception of supporting existing power services to the people in the region," a GE spokesperson told MarketWatch in January 2023, reiterating the company's message from last year. The American General Electric (GE) will not be able to continue servicing gas turbines for the heat of power plants with a total capacity of 5 GW in Russia due to sanctions.