Siemens to exit Russia over invasion of Ukraine; takes €600m hit
The sanctions particularly hit the firm’s Russian operations, specifically rail service and maintenance.

The sanctions particularly hit the firm’s Russian operations, specifically rail service and maintenance.
Russian forces shelled various Ukrainian regions, including Kyiv, Lviv, Vinnytsia, Transcarpathian, and Kirovohrad.
Missile strikes hit five railway stations in central and western Ukraine.
This is the first time a Russian debt instrument was classified as defaulted since Moscow launched an invasion on Ukraine.
Russian forces have used the Tochka U short-range ballistic missile in the attack.
Buildings, tracks, and rail stock were damaged due to the attack.
UK authorities clarified that the sanctions are not applicable to VR Group’s contracts.
The Russian invasion of Ukraine has seen increases in defence spending in much of the world, meaning austerity measures are…
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