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13 Apr, 2016 14:59

Siemens CEO calls for removal of anti-Russian sanctions

Siemens CEO calls for removal of anti-Russian sanctions

“We are against sanctions and insist they be lifted,” the President and CEO of Siemens Russia Dietrich Moeller told RT on the sidelines of a conference on the development of the industrial internet in Russia.

Moeller says that although Siemens’ contracts haven’t been affected by anti-Russian sanctions, the company has been losing new orders.

“The sanctions have a knock-on effect on us, touching financing,” he said, stressing that customers cannot fund new projects.

Major business players such as Siemens are always in touch with government, but politics shouldn’t be mixed up with the economy, according to Moeller.

READ MORE: EU sanctions against Russia should be lifted ‘as soon as possible’ – regional Italian president

“Siemens is not engaged in politics, our company stands for a favorable business environment and removing sanctions that create an adverse business climate,” said Moeller.

Russia is an attractive location for business and is seen as a long-term partner for Siemens, according to the CEO.

READ MORE: Austrian President wants EU to examine ending anti-Russia sanctions

 “Siemens has been working in Russia for more than 160 years, we have gone through lots of hard periods,” says Moeller, pointing out that even a sideways impact of the economic embargoes is much less than the effect produced on Russia’s economy.

Despite evident challenges, Siemens continues working and investing in its Russian business, says Moeller.

READ MORE: Bavaria plans to boost business ties with Russia

Siemens is the largest engineering company in Europe, and specializes in manufacturing and maintenance of electronics, power engineering equipment, transportation, light engineering as well as communications services. Headquartered in Berlin and Munich the concern employs over 400,000 people.