The German industrial giant took a €600 million hit, according to its annual report German multinational conglomerate Siemens has revealed it suffered losses of €600 million ($650 million) as a result of its decision to leave the Russian market amid Western pressure and Ukraine-related sanctions on Moscow. In its report for the fiscal year 2023, the company announced that “the winding down of business activities in Russia a year earlier burdened prior-year profit by €0.6 billion in impairments and other charges.” The losses were reportedly sustained by the group’s Siemens Mobility subsidiary. The conglomerate had
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