News / French logistics firms play down impact of sanctions on Russia businesses

French automotive and industrial logistics specialist Gefco, which is 75%-owned by Russian Railways (RR), has played down the impact on its business from its parent company put on an EU sanctions list, following Russia’s attack on Ukraine.

It said: “The latest sanctions by the United States and the European Union are impacting our majority shareholder, Russian Railways, by limiting the possibilities of new funding.

“But they have no effect on the operational conduct of our business. Gefco remains an independent and non-political ...