OREANDA-NEWS  The manufacturer of railway equipment Siemens Mobility and Volkswagen Bank appealed to the authorities for compensation for financial losses in Russia. This is reported by the FAZ agency.

The business asked for compensation for losses, as it had previously used the investment guarantee tool from the federal government. Currently, the Siemens subsidiary cooperates with the government and the PwC audit company, which is entrusted with the implementation of investment guarantees.

Earlier, the energy company Wintershall Dea (BASF's "daughter") asked to compensate for investments in Russia. As noted in the German Ministry of Finance, negotiations on "possible scenarios of damage" have been underway for a long time. In mid-November, the authorities of Europe's largest economy received requests from 8 companies that decided to take advantage of investment guarantees due to projects in Russia worth 2.8 billion euros.

Siemens announced its withdrawal from Russia in May 2022. The company sold its financial and leasing business in Russia, explaining the decision by a special operation in Ukraine. In August, Siemens Energy, which was separated into an independent company in 2020, also announced the termination of work in the country. By the end of fiscal 2022, the company announced the loss of about 400 million euros in revenue from operations related to Russia.