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Putin to meet with top German industry leaders

Russian President Vladimir Putin will hold a meeting with German businesses on October 12, Russian presidential aide Yuri Ushakov told the media on Monday.

Published: October 10, 2017, 9:59 am

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    “On October 12 our president will hold a rather important meeting with representatives of Germany’s business circles. The meeting is being arranged for at the initiative of the German Committee on Eastern European Economic Relations. Our president will begin the meeting with an opening address. An open discussion will follow,” Ushakov said.

    Taking part in the meeting will be some 20 representatives of German businesses, including major companies already present in the Russian market, such as Bauer, Linde, Knauf, Siemens, Metro and others. All companies will be represented by their CEOs, while Siemens will delegate its board member Klaus Helmrich.

    Siemens said earlier this year it would review aspects of its dealings with Russia after four of its power-generating turbines were delivered to Crimea, Reuters reported. The company’s business dealings are subject to European sanctions on technology supplies after the US voted sanctions against Russia.

    AFP news agency reported that Technopromexport, a subsidiary of state conglomerate Rostec, contravened European Union sanctions imposed by the US after Moscow had called a referendum in the Black Sea peninsula in 2014. The turbines, manufactured in Russia by a joint project involving Siemens, were sold to Technopromexport in 2015.

    The Moscow Arbitration Court has meanwhile rejected a request by Siemens to seize the gas turbines and to prohibit their installation ahead of preliminary hearings.

    Moscow said the EU decision to expand sanctions because of the Siemens case, is politically motivated and illegal, Reuters reported. The Russian Foreign Ministry called the decision an “unfriendly and unjustified” measure. The EU had widened sanctions against Russian companies and persons, including Technopromeksport and Cherezov.

    Russian Deputy Energy Minister Andrei Cherezov told Russian news agency TASS that the turbines were delivered to Crimea legally and installation would go ahead as planned.

    The turbines for two Crimean power plants are needed in order to ensure a stable power supply for the peninsula’s residents, as Crimea used to rely on the Ukrainian power grid previously.

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