Siemens Energy stopping all new business in Russia

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A company logo of Siemens Energy AG is pictured during Siemens Energy's initial public offering (IPO) at the Frankfurt Stock Exchange in Frankfurt, Germany, September 28, 2020. REUTERS/Ralph Orlowski/

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FRANKFURT, March 2 (Reuters) - Siemens Energy AG (ENR1n.DE) is stopping all new business in Russia, it said on Wednesday, in a response to the country's invasion of Ukraine.

"While we continue to review the extensive sanctions and their impact on our business, we have stopped all new business in Russia," a spokesperson said.

In its last fiscal year, Russia accounted for a low single-digit percentage share of its total sales, Siemens Energy said.

Former parent Siemens (SIEGn.DE) on Tuesday said it had also stopped all new business with, and international deliveries to, Russia.

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Reporting by Christoph Steitz Editing by Riham Alkousaa

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