Siemens to exit Russian market as a result of invasion of Ukraine

Cnn staff

German manufacturing conglomerate Siemens says it will exit the Russian market as a result of the war in Ukraine.

“We join the international community in condemning the war in Ukraine and are focused on supporting our people and providing humanitarian aid,” the company said in a statement Thursday.

The multinational corporation said it has started “proceedings to wind down its industrial operations and all industrial business activities.”

Siemens said it had earlier put all new business in Russia and international deliveries to Russia on hold “while it evaluated the situation to ensure the safety of its 3,000 employees in the country.”

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