Siemens plans long term Russia investment, CEO tells Putin

The chief executive of Siemens told President Vladimir Putin on Wednesday the German industrial giant plans long-term investment in Russia, news agencies reported, in a key sign of confidence in Russia's economy despite the outcry over its intervention in Crimea. Siemens chief Joe Kaeser said at a meeting at Putin's Novo-Ogaryovo residence that his company "would put the emphasis on long-term cooperation in the sphere of investment", in comments translated into Russian by domestic news agencies. "We will try to create beneficial conditions for our cooperation," said Putin, whose meeting with Kaeser came amid calls for tougher economic sanctions in response to Russia's seizure of Crimea.