Russian Railways have more than $610mln of investment "frozen" due to the civil war in Libya, Vladimir Yakunin, the CEO of Russian railways has revealed. Despite that the company is ready to develop other projects in the Middle East.
When last year's civil war in Libya broke out, Russian Railways had to stop building the railroad between Sirte and Benghazi. Mr.Yakunin stressed it was the decision to impose a no-fly zone on Lybia that was to blame.
Currently another project in the Middle East, a railroad between Tabriz and Azarshahr in Iran is frozen because of UN sanctions against the country. But Russia Railways are eager to continue collaboration with Iran, Yakunin stressed.
Mr Yakunin added that, despite all the controversies Russian Railways plan to collaborate with North African as well as Arabian countries.