Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Siemens Rethinks Rosatom

Siemens is considering exiting an atomic power joint venture with Rosatom after the nuclear crisis in Japan and mounting internal resistance, Financial Times reported Thursday.

The newspaper quoted an unidentified senior executive as saying the company is looking at a way out that would be "face-saving" for Russia and Siemens' chief executive Peter Loescher.

FT said a number of executives had privately doubted the viability and business prospects of the venture even before a massive earthquake and tsunami last month damaged Japan's Fukushima Daiichi power plant. "Fukushima will be an occasion to exit but not its reason," the executive was quoted as saying.


Read more