Siemens’ decision in May to leave the Russian market is estimated to have cost it around 600 million euros (£506m), largely stemming from the loss in sales of new rolling stock and train maintenance packages.
The decision affects Siemens’ businesses selling everything from power grid equipment to consumer goods such as dishwashers, but not its healthcare business.
Siemens had built passenger trains and freight locomotives for Russian Railways (RZD) since 2000. RZD said it would continue maintenance of its Siemens fleets, including the Sapsan high-speed fleet that runs between Moscow and St Petersburg, although Russian media reports suggest these trains may now have to be withdrawn.
Prior to Russia’s invasion of the Ukraine, Siemens had begun delivery of a second batch of Sapsan trains from its Krefeld plant in Germany. Three of the 11 on order had been received by RZD before further deliveries were suspended.
We've read it in Today’s Railways Europe - July 2022, p9
