Global Markets

Siemens suspends shipments of power equipment to Russia

Siemens is to suspend shipments of power generation equipment to state-controlled Russian companies, the German company has announced.
By Staff reporter 21 July 2017 0 26863

Siemens is to suspend shipments of power generation equipment to state-controlled Russian companies, the German company has announced.

The move follows an allegation made by Siemens earlier this month against Russian power plant builder Technopromexport (TPE), which it accused of shipping Siemens-built gas turbines to Crimea in contravention of EU sanctions.

Inter RAO, Russia’s biggest power generator, responded to the announcement by saying it did not need equipment from the German manufacturer “at the moment”.

Gazprom Energy Holding, which had earlier planned to buy Siemens equipment to...