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This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.
MOSCOW, Aug 30 (Reuters) - A Russian-U.S. joint venture has abandoned plans to build gas turbines in Russia under licence from General Electric (GE), Russian energy holding InterRAO, one of the joint venture partners, said on Wednesday.
State-controlled InterRAO bought the rights from GE in 2020 to produce two turbine classes as part of Russia's efforts to manufacture its own medium and large-capacity gas turbines for power plants.
But GE suspended its operations in Russia after Moscow launched its military operation in Ukraine last year, with the exception of providing essential medical equipment and supporting existing power services in the region.
In June, Russia's Kommersant newspaper reported that GE had stopped servicing gas turbines at thermal power plants in Russia after new U.S. sanctions against Moscow.
"The U.S. government has banned GE to continue the partnership ... We need to discuss with the partners how we will handle financial and corporate issues," the head of InterRAO, Boris Kovalchuk, told reporters.
InterRAO, which owns about 51% of the venture, called Russian Gas Turbines (RGT), has the option to buy out GE's stake.
Kovalchuk said his company, which bought a Siemens Energy turbine business in Russia last year, wanted to discuss the terms of the venture with GE next year.
GE did not immediately respond to a request for comment. (Reporting by Anastasia Lyrchikova Editing by Vladimir Soldatkin and Mark Potter)
