MOSCOW – Arbitration court in Moscow has accepted a countersuit from OJSC VO Technopromexport and VO Technopromexport LLC against Siemens that seeks to annul three provisions of their March 10, 2015 contract on acquisition of gas turbines, an Interfax correspondent reported from the court.
The case concerns the turbine sales contract that a Siemens joint venture with Power Machines (MOEX: SILM), Siemens Gas Turbine Technologies LLC (St. Petersburg) concluded with OJSC VO Technopromexport. The contract said the turbines were destined for the Taman area and could not be used in Crimea, in accordance with sanction restrictions.
