Kaeser recognised that "not everything is ideal at Siemens", acknowledging the company's crisis over gas turbine deliveries to Crimea.
The EU "didn't recognize the illegal annexation of Crimea and Sevastopol by the Russian Federation", instead it slapped a set of sanctions against Moscow, including a ban of supplying of key equipment for infrastructure projects in Crimea and Sevastopol in important sectors.
The three Russian nationals and three companies added to the European Union blacklist over Russia's encroachments against Ukraine were involved in the transfer of the Siemens gas turbines to Crimea, it said.
The European Union has expanded anti-Russian sanctions because of the scandal with the shipment of Siemens turbines to the Crimea, the EU Council reported.
The EU imposed sanctions on three Russian nationals and three firms on Friday after gas turbines sold by German industrial giant Siemens were diverted to Ukraine's Russian-annexed Crimea region. The sanctions, consisting of an asset freeze and travel ban, now apply to 153 people and 40 entities, the council said.
Stock'S Earning Overview Cognizant Technology Solutions Corporation (CTSH)
In other news, insider Debashis Chatterjee sold 3,452 shares of the company's stock in a transaction on Thursday, July 20th. The company has broken out to a five bull momentum rating - that is extreme strength and through technical resistance.
The statement drew attention to the fact that a "loose interpretation" of the sanctions policy used by Germany, which called for new sanctions against Moscow, is "in direct contradiction to both worldwide law and the principle of global relations".
Those targeted included Russia's vice energy minister Andrey Cherezov, according to the 28-nation EU's official legal journal.
Siemens says it wants to buy back the turbines, but Russian contractor Technopromexport says it has not yet received a proposal. Against the backdrop of the situation, Siemens expressed its intention to annul a power plant equipment supply license agreement, repurchase the turbines, and suspend power equipment supplies to Russian state firms to devise new control measures.
In early July, Siemens created a task force team to investigate reports about the alleged transfer of turbines produced by Siemens Gas Turbines Technologies, a joint venture with the Russian Power Machines company, to the Crimean peninsula. Moscow underlined that it "reserves the right for retaliatory measures".