Mutual economic sanctions between Russia and the West have significant impact on the profit ratio of foreign and domestic companies. During the effect of restrictions, Russian businessmen as well as their western counterparts have been suffering serious financial losses. According to the official information published on the Siemens Corp. website, political differences have caused the reduction of the company's business in Russia by half. President and Chief Executive Officer of Siemens AG Joe Kaeser noted that the company operates with due attention to imposed sanctions. At the same time, Siemens has to look for additional opportunities to offset losses. Considering these circumstances, the German producer’s board asked politicians to establish a dialogue and try to solve existing problems or to ease restrictions. “The company recognizes the primacy of politics, we adhere to this position, and I always gave it to understand … How and what better to talk with each other, rather than to argue," said Joe Kaeser. Of course, political interests and the wish to achieve peace and tranquility in the countries of Eastern Europe are in priority area. However, Russia is a major partner of the European Union, and many western companies are successfully doing business in the Russian Federation. Concern Siemens is one of the world leaders in producing energy, transport and medical equipment. It also renders specialized services in these spheres. The total number of employees exceeds 340 thousand people.
