Quotes of interbank currency market of Ukraine (UAH for $1, in 01.03.2022-31.03.2022)
The German concern Siemens will leave the Russian market as a result of Russia’s full-scale invasion of Ukraine, the company said in a statement.
Siemens has begun the process of terminating its manufacturing and operating activities.
Siemens recalled that after the start of the Russian war in Ukraine, the company suspended all new operations and international deliveries to the Russian Federation and Belarus. International sanctions and potential countermeasures affect the company’s activities in Russia, in particular, railway maintenance and repair.
Siemens has decided to conduct an orderly exit process from Russia, CEO Roland Bush is quoted as saying.
“We evaluate the impact on our people and will continue to support them to the best of our ability. At the same time, we provide humanitarian assistance to our colleagues and the people of Ukraine and support the calls of the world community for peace,” said the head of Siemens.
At the moment, the Siemens circuit includes, in particular, operations in the field of automation and digitalization for industry, intellectual infrastructure, transport, and distributed power systems. In 2020, the company held a spin off, as a result of which the energy division was separated into a separate Siemens Energy company (as of the end of November 2021, Siemens was the largest shareholder with a 35% share).
Thus, two separate companies are represented in the Russian Federation – Siemens and Siemens Energy.
In Russia, Siemens Energy is one of the main suppliers of power equipment. The company, in particular, owns Siemens Transformers and 65% in a joint venture with Power Machines – Siemens Gas Turbine Technologies (STGT). Siemens Gamesa, also part of Siemens Energy, is a partner of Enel Russia (MOEX: ENRU) in implementing renewable energy projects in Russia.
In addition, in Russia, Siemens and the Sinara group operate a joint venture LLC Ural Locomotives, which serially produces freight mainline DC electric locomotives with a collector traction drive 2ES6 Sinara and with an asynchronous 2ES10 Granit, as well as electric trains Lastochka “and main AC electric locomotives 2ES7.
German Chancellor Olaf Scholz, in a telephone conversation with Ukrainian President Volodymyr Zelensky on Wednesday, received information about the “current situation and the negotiation process” between Russia and Ukraine, according to a press release from the German government.
“The chancellor was informed about the current situation (in Ukraine) and about the negotiation process between Ukraine and Russia, designed to end the conflict,” the document says.
Scholz and Zelensky also discussed “concrete, practical ways” to provide further assistance to Ukraine and “agreed to remain in close contact.”
In addition, according to the document, Scholz “expressed condolences in connection with the death of the first president of independent Ukraine, Leonid Kravchuk.”
The Washington Post creates a new bureau in Kyiv , which will be headed by Isabel Khurshudyan.
Max Berak will be the chief correspondent of the Ukrainian bureau. This important step signals the publication’s long-term commitment to covering Russia’s war against Ukraine, as it will continue to be this year’s top story.
Foreign Ministers of Ukraine Dmitry Kuleba and Moldova’s Nikolai Popescu will attend the meeting of the G7 foreign ministers, which starts on Thursday in Germany, the Süddeutsche Zeitung reported on Wednesday.
“The representative of the German Foreign Ministry said on Wednesday in Berlin that the discussions near the Baltic Sea in Schleswig-Holstein will periodically join the Foreign Ministers of Ukraine Dmitry Kuleba and Moldovan Nikolay Popescu,” the newspaper writes.
The publication recalls that Germany is currently chairing the G7. At the meeting of the G7 foreign ministers, they will discuss the consequences of the situation around Ukraine, its impact on energy and food security.
Ministers will also talk about China and the situation in the Indo-Pacific region, the situation in the Middle East, Africa and Afghanistan, climate change and the coronavirus pandemic. Indonesian Foreign Minister Retno Marsudi, whose country now chairs the G20, will take part in some of the discussions.
Later, the Süddeutsche Zeitung recalls, on May 14-15, the foreign ministers of the NATO countries will gather for an informal meeting in Berlin. At the same time, the newspaper specifies, on Saturday the Foreign Ministers of Sweden and Finland, Ann Linde and Pekka Haavisto, will join the consultations.
In turn, the German Foreign Ministry noted that this format of meetings within NATO will be held for the first time, it should contribute to the development of a dialogue between the members of the alliance, a more direct and open exchange of views.