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Relations of Russian and German business undermined, - Russian-German chamber of commerce
16:11, 21 July 2017
Relations of Russian and German business undermined, - Russian-German chamber of commerce

The Chairman of the Management Board of the Russian-German chamber of commerce says the consequences are hard to evaluate

16:11, 21 July 2017

AP

The situation with Siemens in Russia undermines trust-based relations of Russian and German business, Matthias Schepp, the Chairman of the Management Board of the Russian-German chamber of commerce, said that to RIA Novosti.  

"The trust-based relations of German business with its Russian partners are challenged and the consequences are hard to evaluate,” Schepp said commenting suspension of power equipment supplies to the Russian companies.

“The main principle of the German business is to strictly follow the agreements and fully comply with the terms of the contracts. German companies stick to this rule in Russia as well: the partners should trust each other otherwise the investments are compromised,” the head of the chamber of commerce believes.

Related: Russia tries to launch Siemens gas turbines in Crimea

As it reported, Siemens created the special group on this issue after the scandal of the supplies of the gas turbines to Crimea. According to the EU sanctions, the German companies cannot supply such equipment to the peninsula.

The information that the turbines of German concern Siemens will be supplied to occupied Crimea appeared in July 2017. The company recognized that its production was delivered to the peninsula by evasion of the sanctions. Later Siemens filed the lawsuit to the Commercial Court of Moscow.

Also, it was reported that two gas turbines occurred in occupied Feodosia delivered from Russia.

Later on July 14, Siemens considers the withdrawal from the joint enterprises in Russia such as Siemens technologies of gas turbines and Interautomatic.  

Earlier today, Siemens claimed to stop the supplies of the power equipment to the Russian government companies

Related: Ukraine says UN did nothing to stop Russia in Crimea, Donbas

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