Russian Railways on EU and US sanction list
Both the EU and the US have included Russian Railways in its sanction list. It is not completely clear what this means for rail freight transactions between Europe and China, but it seems that doing business with the Russian state-owned company will become more complicated.
The sanctions imposed are financial. The EU text reads: “It shall be prohibited to directly or indirectly purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments, issued after 12 April 2022, by…”, followed by a detailed description of all those this applies to. On page 135 of the document, it clarifies that this applies to Russian Railways, too.
The sanctions imposed on Russian people and companies are fluid, and the relevant lists are frequently updated, the website of the European Council states. The same applies to the US Treasury, which is responsible for the sanctions from the US side. These measures will be in place until March 15, and depending on the situation, they will be reviewed.
To better understand the sanctions imposed on Russia and how they will affect the New Silk Road, you can attend the webinar organised by RailFreight.com and Nieuwsblad Transport on Tuesday, March 1. You can register for this webinar free of charge on this website.
A version of this article first appeared on RailFreight.com, a sister publication of RailTech.com