Replies to post #2 on Siemens AG (SIEGY)

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$SIEGY Siemens promises legal action to stop use of its turbines in Crimea

Siemens (OTCPK:SIEGY -0.1%) is taking legal action to prevent the installation of its electricity turbines in Crimea, where European Union sanctions for energy technology are in effect, Reuters reports.

Siemens says it built the turbines for a project on Russia's Taman peninsula but reports last week said Russia had sent them on to Crimea; Siemens says at least two of four gas turbine sets intended for the project in Russia had been illegally moved to Crimea and would take criminal action.

The Kremlin claims the turbines being installed in Crimea were made in Russia from Russian components; Siemens says the turbines were made at a 65%-owned subsidiary in St. Petersburg. using the company's technology.