Finnish VR Group to sell assets in Russia and start terminating contracts

Finnish railway company VR Group will sell all of its Russian assets and has begun terminating transportation contracts, the organization said on Tuesday.
Earlier it was reported that on April 6, VR Group will suspend cargo transportation in the Russian direction as planned.
“Contract cancellations have begun as part of the plan, and traffic will be fully terminated no later than the end of the year,” the company said.
VR strives to close traffic as quickly as possible and has already begun to terminate contracts with customers today, however, part of the traffic may continue on the terms of termination until the end of the year, the report says.
Simultaneously with the end of transportation, the contracts with Russian Railways OJSC (RZD) will be terminated.
VR will also sell its associated companies and subsidiaries involved in cargo transportation in Russia.
VR Group has entered into negotiations to sell or terminate its Finnish subsidiaries ContainerTrans Scandinavian (CTS) and Freight One Scandinavian (FOS), as well as its Russian subsidiary Finnlog.