German Industrial Giant Siemens Is Leaving Russia After Nearly 170 Years
German industrial giant Siemens AG says it is exiting Russia, where it has operated for almost 170 years.
“We condemn the war in Ukraine and have decided to carry out an orderly process to wind down our industrial business activities in Russia,” Roland Busch, the Munich-based company’s CEO, said Thursday.
Siemens had been one of the first companies to put all new business in Russia, along with international deliveries to the country, on hold following Russia’s invasion of Ukraine in February.
The company said it had been evaluating the situation with the eye of ensuring the safety of its 3,000 employees in Russia.
The maker of trains and industrial equipment said the Russia sanctions shaved off about 600,000 euros ($623,000) from its fiscal second-quarter results, which were reported Thursday.
G7 Seeks More Ways to Help Ukraine, Unblock Grain Supplies
Top diplomats from the Group of Seven wealthy nations gathered Thursday in northern Germany for a three-day meeting centered on Russia’s war against Ukraine and the wider impact it is having around the world, particularly on food and energy prices.
German Foreign Minister Annalena Baerbock, the meeting’s host, said the conflict already had become a “global crisis” because shipments of staple crops are stuck in Ukraine, a major agricultural exporter.
“Twenty-five million tons (27.5 million U.S. tons) of grain are currently blocked in Ukrainian ports, particularly Odesa,” Baerbock said. “Grain that’s food for millions of people around the world, and which is needed particularly urgently in African countries and the Middle East.”
“That’s why we are discussing how the grain blockade exerted by Russia can be unblocked, how we can get the grain out to the world,” she added.
Rand Paul Stalls Quick Senate OK of $40 Billion Ukraine Package
Kentucky Republican Sen. Rand Paul defied leaders of both parties Thursday and single-handedly delayed until next week Senate approval of an additional $40 billion to help Ukraine and its allies withstand Russia’s three-month-old invasion.
Faced with the prospect of an extended delay for the package that passed the House of Representatives on Tuesday, Senate Majority Leader Chuck Schumer and his Republican counterpart, Mitch McConnell, sought to move forward on the aid package only to be blocked by Paul, a longtime fiscal hawk who objects to the amount of spending proposed.
The stalemate has threatened to delay passage of the measure into next week. Late on Thursday, Schumer moved to limit debate on the bill, which could set up an initial procedural vote on Monday. But it was not clear whether leaders were still trying to negotiate a deal that would further speed the bill along.
If the Senate debate on Ukraine aid spills into next week, it could cause problems for Western nations trying to bolster Ukraine in its fight against Russia. The Biden administration has said that by May 19 it expects to run out of available funds to draw on under an authority that allows the president to authorize the transfer of weapons without congressional approval in response to an emergency.
Paul is demanding that the legislation be altered to require an inspector general to oversee spending on Ukraine. Without his agreement, the Senate must follow a lengthy process stipulated by the chamber’s arcane rules.
Rocket Attacks Intensify on Poltava Region
Rocket attacks on Ukraine’s central Poltava region on Thursday were “perhaps the most intense for the duration of the war,” the regional governor said that same day.
“Today’s shelling of the Poltava region is perhaps the largest during the course of this full-scale war,” Dmitry Lunin wrote in a Telegram post, and “12 Russian missiles hit the infrastructure in [the city of] Kremenchuk; most of them hit an oil refinery that was not operational anyway.”
“Rescuers are putting out a fire at the refinery. Luckily, no one was hurt,” Lunin added.
The Associated Press and Reuters contributed to this report.