SIEGY Siemens AG (PK)

   By Andrea Thomas 
 

BERLIN--Siemens AG's (SIE.XE) business in Russia has dropped by around 50% since economic sanctions were imposed against the country over Moscow's handling of the Ukraine crisis, according to the company's chief executive.

"The business with Russia in general dropped sharply; ours fell by around half," Joe Kaeser, head of the German industrial and technology conglomerate, told Sunday's Bild am Sonntag.

He said Siemens continues to support sanctions against Russia but added that it is better to talk with each other than about each other.

The European Union and the U.S. have imposed sanctions against Moscow for Russia's annexation of the Ukrainian peninsula of Crimea and for what the West says is Moscow's role in supporting pro-Russian rebels in eastern Ukraine.

Write to Andrea Thomas at andrea.thomas@wsj.com

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