Russian Railways wary of fall in revenue

Russian Railways may receive RUB 30bn (approx. USD 1.13bn) less this year due to a drop in transportation volumes, the company's chief Vladimir Yakunin said during a meeting on Russia's draft transportation strategy until 2030 held in Novosibirsk yesterday according to RBC. He stressed that Russian Railways played a key role in ensuring demand in a number of adjacent sectors. With this in mind, the potential fall in the company's revenue could affect other industries, particularly mechanical engineering and the metallurgical sector. Russian Railways is ready to put forward stabilization measures to remedy the situation, Yakunin said. The executive also told Prime Minister Vladimir Putin that the company hoped to receive his and the government's support.