MOSCOW (Reuters) – Russian conglomerate Rostec has sold its stake in a sanctioned technology company that was embroiled in a scandal over the installation in annexed Crimea of turbines made by Germany’s Siemens (SIEGn.DE), Rostec told Reuters on Thursday.
The 17.34% stake in Interavtomatika was sold by Rostec unit Tekhnopromexport in June to a Russian research institute for 67 million roubles ($1 million), a filing at the state bankruptcy registry showed.
Siemens, which holds a 46% stake in Interavtomatika, declined to comment on the sale.
The European Union imposed sanctions on Interavtomatika for installing several turbines made by Siemens in Crimea despite an EU ban on the supply of energy technology to the peninsula annexed from Ukraine in 2014.
Siemens says Russia clandestinely delivered the turbines to Crimea.
Russia’s energy ministry says the turbines were not from Siemens. It said they were modernized turbines that were the work of Russian specialists and Russian equipment.
German prosecutors are investigating three Siemens employees over the incident.
Reporting by Anton Zverev and Gleb Stolyarov; Writing by Tom Balmforth; Editing by Mark Potter