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Germany's Siemens not pressed to stop cooperation with Russia

German engineering giant Siemens feels no pressure from the federal government over cooperation with Russia, Siemens AG Chief Executive Officer Joe Kaeser said on Wednesday after his meeting with Russian President Vladimir Putin.

Asked about the possible consequences of sanctions against Russia for the company's cooperation with the country, Kaeser said: "Siemens and personally, I do not feel any pressure from the federal authorities."

"And certainly there has been no pressure when the chief executive of Germany's leading corporation cooperating with Russia for 160 years came to meet the Russian president," he said, adding that Germany's government knew about his visit to Moscow.

Kaeser said that "forthcoming events will show how politics might influence economic activity".

"Anyway, we have built our relations on the basis of long-term prospects and trust, existing between our Russian partners and ourselves," he added.

[Source: Itar Tass, Novo Ogaryovo, 26Mar14]

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