Russia’s wartime economic woes slow railway trade with China
Russian Railways JSC — the state-owned carrier responsible for all rail transport throughout the country — last week approved a 30% cut in its investment program for next year amid soaring borrowing costs, news agency Tass reported, citing the transportation minister.
An increase in war-related cargoes is also compounding existing bottlenecks, while sanctions weigh on cross-border payments. Those factors, along with longstanding logistical issues, are slowing the transport of goods like coal and aluminum.
The railway “is experiencing its deepest slump since the 2008-09 crisis this year, and the trend is still going strong,” Moscow-based MMI Research said in a Telegram post this month. “We assume that this is due to both the needs of the army — loading the network with priority cargo — and the worsening problems with the rolling stock.”
Russian Railways didn’t respond to a request for comment.
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