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Finnish railway announced the termination of contracts with Russia

Photo: VR Group

VR Group closes all its business in Russia

By the end of this summer, traffic will be reduced by about a third of the initial level, noted in the VR Group.

Finland’s state-owned railway company VR Group is terminating contracts with Russia for freight transportation. It is reported on her site on Tuesday, May 3rd.

It is indicated that, according to the decision of the Board of Directors of VR Group, the termination of contracts with Russia has begun, a complete cessation of transportation is expected before the end of 2022.

“We estimate that by the end of the summer, traffic will be reduced by about a third of the original level. Some customers want to continue traffic until the end of the notice period, but we are still in talks to stop traffic faster. In any case, all Russian cargo transportation that VR serves, will stop no later than the end of the year,” the acting director noted. Topi Simola, Managing Director of VR Group.

It is noteworthy that today Western sanctions do not apply to rail transportation, so the termination of VR contracts is agreed in the usual manner, which is prescribed in the contracts themselves.

In addition, VR will also sell its affiliates and subsidiaries in Russia related to cargo transportation.

It became known yesterday that Finland decided to terminate the contract with Rosatom for the construction of the Hanhikivi-1 nuclear power plant. One of the reasons for the decision is Russia’s war against Ukraine.

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