Clean Break: the company completely halting Russian engagements or exiting Russia

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Siemens Energy AG is a German company, a manufacturer of equipment for the energy industry. Siemens Energy AG is an energy company formed by the spin off of the former Gas and Power division of Siemens Group and includes a 92.7% share of Siemens Gamesa.

 
 
 

Clean Break: the company completely halting Russian engagements or exiting Russia

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Revenue(RF), mln.USD
11
Assets(RF), mln.USD
1
Taxes(RF), mln.USD
61
Glob.Revenue, mln.USD
34310
Staff(RF), 2021
320

Sold factory and stake in few Russian companies but Siemens Energy supplies control technology for reactors to the Russian nuclear giant Rosatom. Russian state nuclear energy company Rosatom plans to sue German industrial giant Siemens over undelivered equipment for the construction of the Akkuyu nuclear power plant in southern Turkey.

The Company Statement
February 05, 2023

All new types of business in Russia have been suspended. German energy holding Siemens Energy has started restructuring its business activities in Russia and intends to complete the exit from assets in Russia at the end of the current fiscal year. But it is possible to continue servicing the equipment for "Nordic Stream-1". 14.10.2022: Siemens Energy sells Russia-based gas turbine JV to local state firm. Systems LLC (formerly Siemens LLC, the Russian structure of Siemens AG) plans to initiate a voluntary liquidation procedure in February 2024 due to the inability to continue its normal activities related to the import of goods into the Russian Federation, according to the company’s report on the results of 2023. In October 2022, PJSC Inter RAO announced the purchase of Siemens Energy's 65% stake in a joint venture with Power Machines - STGT LLC. Also, RAO Intertech B.V. (Dutch structure of Inter RAO) became the owner of the Voronezh Siemens Energy plant - Voronezh Transformer LLC (formerly Siemens Energy Transformers LLC).

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Statements Archive
January 12, 2025Germany's Siemens Energy in legal spat with Russia's Rosatom
January 06, 2025Russia’s Rosatom to sue Siemens over delay of equipment for Akkuyu nuclear power plant construction
June 10, 2024Business Advisory Council triggers: Platform brings together business representatives from different countries to help improve the investment climate in Ukraine
February 12, 2024The structure of Siemens in the Russian Federation "Systems" plans to begin liquidation
October 28, 2023Germany’s Siemens Energy Chairman Defends Business With Rosatom
May 12, 2023Siemens response
February 17, 2023Siemens Energy response
February 17, 2023Letter sent by B4Ukraine to the company and the response provided
November 30, 2022Yale's SOM List
October 14, 2022Siemens Energy продає російське СП газових турбін місцевій державній фірмі.
September 08, 2022Siemens Energy plans to complete the exit from assets in the Russian Federation this fall, but there is a nuance
August 08, 2022Siemens Energy loss widens amid Russia withdrawal
July 10, 2022Canada agreed to hand over the turbine to Gazprom, contrary to Ukraine's position
June 21, 2022Canada Working With Germany on Options to Restore Vital Gas Flow
March 02, 2022Siemens Energy stopping all new business in Russia
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