Canada: For the first time in Siemens,

Gazprom: Return of Siemens turbine to Russia due to sanctions "impossible"

 Gazprom: Return of Siemens turbine to Russia due to sanctions A delivery of the turbine available in Germany for the Nord Stream 1 pipeline to Russia is "impossible" due to the sanctions imposed against Moscow. In a declaration published on Wednesday, the company also cited "ambiguities in the current situation regarding Siemens' contractual obligations". Both together make "the delivery impossible".

for the first time in almost 12 years Siemens has to report red numbers - even though the shops are going well. The Munich group made 1.5 billion euros in loss in the third business quarter, as he announced on Thursday. The reasons for this are a high depreciation of the remaining proportion of the former energy-saving Siemens Energy and stress in connection with Russia, since Siemens withdraws from there because of the Ukraine war.

Das Leipziger Siemens Werk für Niederspannungsschaltanlagen. Abschreibung auf Energy und Russland drücken Siemens tief ins Minus. © Jan Woitas/dpa The Leipzig Siemens plant for low -voltage switchgear. Depreciation on Energy and Russia press Siemens deep into the minus.

Energy depreciation, which Siemens had already announced at the end of June, pushes the result at 2.7 billion euros - Russia with 0.6 billion. That was too much to have compensated for the otherwise solid, running shops of the Munich team. Sales grew by nominally 11 percent to 17.9 billion, the result in industrial business by 27 percent to 2.9 billion. In the latter, however, a profit of 0.7 billion from the sale of Yunex Traffic was also noticeable.

FIRST READING: Canada gets leverage over Putin ... and immediately blows it

  FIRST READING: Canada gets leverage over Putin ... and immediately blows it First Reading is a daily newsletter keeping you posted on the travails of Canadian politicos, all curated by the National Post’s own Tristin Hopper. To get an early version sent direct to your inbox every Monday to Thursday at 6:30 p.m. ET (and 9 a.m. on Saturdays), sign up here. TOP STORY For a brief moment, Canada found itself in the rare position of exercising near-unprecedented leverage over the Russian Federation. Without a single dollar For a brief moment, Canada found itself in the rare position of exercising near-unprecedented leverage over the Russian Federation.


Video: Lufthansa flies again into the profit zone (dpa AFX)

For the current year, the massive loads from the third quarter of Siemens also cost the result forecast, which is now lower for the amount of energy depreciation. However, other signs for the future are good: According to a increased order input of 22 billion euros, according to Siemens, the order stock is now a record value of 99 billion euros. "We have the right offer and the right strategy to be successful even in uncertain times," emphasized Siemens boss Roland Busch.

Canada considered jobs, inflation in decision to return Russian turbine: documents .
OTTAWA — Newly released documents show that Ottawa considered the impact on Canadian jobs and global inflation in its decision to return a turbine being repaired in Montreal to a Russian energy giant. The “memorandum for action” prepared by Global Affairs recommended Foreign Affairs Minister Mélanie Joly grant a permit exempting Siemens Canada from sanctions against Russia and allow it to return the equipment for use in a pipeline carrying gas to Germany.

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