Lithuanian Railways are forced to release around 2,000 employees in an attempt to cope with the increasing financial losses. The company has consulted with employee representatives and will proceed to their release in a controlled...Read more
The first wave of EU state aid for war-related losses is here. The European Commission approved a 20 billion euros state aid scheme to relieve German companies suffering due to the war in Ukraine and...Read more
150,000 wagons are currently stranded and remaining inactive on the Russian railway network. The situation is illustrative of the sanctions’ effect on Russia, which also creates a “hard operational environment for rail freight making it...Read more
The RailFreight Summit Special Edition hosted in Brussels last Wednesday, 6 April, provided much room for fruitful discussions and insights on the disrupted New Silk Road. The one-day event included some important news that we...Read more
The Lithuanian government will allocate 20 million euros to railway manager LTG Infra. Due to the sanctions against Russia, fewer goods are transported through Lithuania, resulting in lower income for rail infrastructure manager LTG.Read more
SANCTIONSThe EU is coming up with a new state aid mechanism to help those affected by the sanctions, said Kristian Schmidt, director of land transport in the EU Commission. European companies suffer losses due to...Read more
A fifth package of sanctions has been announced by the EU. Among others, the EU wants to ban Russian and Belarusian road transport operators, as well as Russian vessels and Russian-operated vessels from accessing EU...Read more
VR Transpoint, the logistics branch of VR Group, suspended rail freight traffic to and from Russia on Sunday, 27 March. VR Group is Finland’s government-owned railway company. The stoppage is in force since Sunday noon...Read more
The EU has extended sanctions on Russian banks. Since 2 March, it has excluded seven Russian banks from the SWIFT system. “This practically means that these banks will barely have access to international markets”, explains...Read more
Both the EU and the US have included Russian Railways in their sanction list. It is not completely clear what this means for rail freight transactions between Europe and China, but it seems that doing...Read more
The EU has officially adopted sanctions against Russia after the invasion of Ukraine. The European Council decided to enforce “massive and severe consequences” for Russia that can be summarised in five main pillars: financial sector,...Read more
Political tension between the EU and Belarus is reaching a climax. Rail freight transport could be among the sectors to suffer the most from this development. This scenario is not far from the reality since...Read more
The Lithuanian Railways will lose approximately 24 million on yearly revenues due to the EU regulations imposing sanctions on Belarus. The losses concern the railway activities of LTG Cargo and LTG Infra that will see...Read more
