VTG railcar. Photo: Joost Bakker

VTG sells Russian business at what it calls a a geopolitical turning point

Photo: Joost BakkerJoost Bakker @ VTG

VTG has discontinued its Russian business activities and sold its corresponding business units. It cites “the war of aggression in Ukraine and the sanctions imposed on Russia” as the main reason. This affects both wagon hire and project logistics in Russia.

The organisational units have been sold to international investors. “As VTG management, we continue to condemn the Russian war of aggression in Ukraine in the strongest terms and against this background we have decided to discontinue our Russian business activities and to sell the corresponding VTG organisational units”, says Oksana Janssen, Chief Operating Officer Eurasia & Far East.

Geopolitical turning point

“We are currently experiencing a geopolitical turning point that not only brings great suffering to the people in Ukraine, but also entails fundamental changes in global politics and the economy.

As a company, we also have to face this new reality. It is important to us to support the European founding idea, which defines the European Union as an area for peace, democracy and human rights, and to support this with our entrepreneurial activities.”

Author: Majorie van Leijen

Majorie van Leijen is the editor-in-chief of RailFreight.com, the online magazine for rail freight professionals.

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