Russian Railways may raise its freight rates by 10% in 2023. In this way, the Russian railway monopoly will attempt to raise an additional RUB 190 billion from shippers for financing investment programs.
The proposal to raise freight rates has been approved by the Russian government, the CFTS portal reports, citing the Kommersant newspaper.
According to the newspaper, the funds are needed for financing the accelerated development of the so-called Eastern section, which involves the development of the Baikal–Amur Mainline (BAM) railway and the Trans-Siberian railway, as well as the Artishta–Medurechensk–Tayshet railway line.
According to Russian reporters, Russian Railways planned record investments for 2022. However, it has failed to achieve its goals because of sanctions.
As the CFTS portal reported, the electrification of the eastern section of the Baikal–Amur Mainline railway, for example, has had to be postponed for at least nine months because of Western sanctions.
As previously reported, rail freight rates have already been raised in the Russian Federation this year: by 7.7% at the beginning of the year and by 11% on 1 June.
Meanwhile, the Ukrainian Railways joint-stock company raised freight rates by 70% on 29 June.