Ukrainian Railways launches nationalization of Russian rolling stock in Ukraine

TUESDAY, 15 MARCH 2022, 09:27

Ukrzaliznytsia (Ukrainian Railways)has begun nationalising Russian rolling stock located in Ukraine.

Source: Oleksandr Kamyshyn, head of the management board of Ukrzaliznytsia, on Telegram

"This [nationalisation] became possible after the president signed the law on the basic principles of the compulsory seizure of Russian property rights in Ukraine," Kamyshyn explained.

According to Kamyshyn, 15,000 Russian items of rolling stock, belonging to 250 companies, are currently parked on Ukrainian tracks.

"We are acting within the law. To begin, we are compiling a list of the owners of the rolling stock whose shareholders include the Russian Federation. The Cabinet of Ministers, the National Security and Defence Council, a presidential decree, and another law will follow up on this. The procedure will take time, so we are starting now.

Determining which of the rolling stock owners has a Russian Federation share in their capital is not an easy task. But there is time, and we have some inspiration," added the Head of the Board of Directors of Ukrainian Railways.

He also named companies that are owned by the Russian Federation. Among them are VEB-Leasing, VTB-Leasing, Gazpromtrans, GTLC, and Sberbank Leasing. These already account for more than 3,000 items of rolling stock.

"Now Russian rolling stock will work for the Ukrainian economy. The stock will be useful to us as we establish new logistics routes to Europe (to the EU - European Union), which will help cargo work to resume," Kamyshyn said in summary.

He specified that there are only 482 items of Ukrainian rolling stock in Russia.

Ekonomichna Pravda (Economic Truth)