Estonian railways to suffer big losses due to anti-Russian sanctions

Chairman of the board of Estonian Railways state-owned company (Eesti Raudtee) Kaido Zimmermann will suffer big losses and will not receive 20 million euros ($19.9 million) due to anti-Russian sanctions.

“The authorities allocated 12 million euros ($11.9 million) to cover this amount, so eight million euros ($7.9 million) are still required,” Zimmermann told Vikerraadio radio channel, according to Lenta.ru.

He noted that the next year's deficit is estimated at 25 million euros ($24.9 million).

Zimmermann explained that about seven trains per hour passed through the three border points between Russia and Estonia in August 2021, now their number has been reduced to three.

“For example, only one train passed through Narva city, and one train through Pechory town yesterday, while now the volumes are small due to the sanctions imposed against Russia,” the chairman of the board added.