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SITUATION REPORT

Nov 16, 2012 | 19:10 GMT

Germany: Siemens Signs Rail Deal With Russia

German firm Siemens has signed a 2.5 billion euro ($3.2 billion) agreement to supply the state-owned Russian railway with 675 locomotives in a joint venture with Russian company Sinara Group, Siemens announced in a statement Nov. 16. Moscow would like to deepen economic ties with Germany, but Germany might not be eager to reciprocate. 

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