OREANDA-NEWS German Siemens has decided to withdraw from the Russian market due to the military special operation in Ukraine. The company announced the closure of business in Russia on its website.

The press release notes that the company has already begun the procedure for terminating its production activities in Russia. "We join the international community in condemning the war in Ukraine and are focused on supporting our people and providing humanitarian aid," the statement said.

Siemens Energy AG announced on March 2 that it was suspending supplies and work on new businesses in Russia. At the time, a company spokesman said Siemens continues "local maintenance and repair activities in strict compliance with the sanctions."

In Russia, Siemens is one of the main suppliers of power equipment. Among other things, it owns 65 percent in a joint venture with Power Machines, Siemens Gas Turbine Technologies. Siemens Gamesa is also a partner of Enel Russia in renewable energy projects.