Support The Moscow Times!

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

We need your help now more than ever.

Independent media outlets and journalists in Russia are being increasingly targeted with “foreign agent” and “undesirable” labels, threatening the existence of the free press day by day.

Your donation to The Moscow Times directly supports the last independent English-language news source within Russia.