Siemens halts deliveries to Russian firms over Crimea case

BERLIN (AP) โ€” German industrial conglomerate Siemens AG says it's halting deliveries of power generation equipment to state-controlled companies in Russia and selling its stake in a Russian company that offers services for power plant control systems. Friday's move came after Siemens said this...

BERLIN (AP) โ€” German industrial conglomerate Siemens AG says it's halting deliveries of power generation equipment to state-controlled companies in Russia and selling its stake in a Russian company that offers services for power plant control systems.

Friday's move came after Siemens said this month that gas turbines delivered to Russia were re-routed to Crimea, in violation both of European sanctions and a contract.

Siemens said that it "will halt power generation equipment deliveries from existing contracts to state-controlled customers in Russia for the time being."

It said it will divest its minority holding in Russia's Interautomatika, which offers products and services for power plant control systems. The company also "has initiated the termination process of a license agreement with Russian companies in the area of equipment supply for combined-cycle power stations."

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