German rail chief concerned about long-term business in Russia

© Khunaspix Dreamstime.

Deutsche Bahn chief Ruediger Grube has said he will travel to Russia to ensure that DB’s relationship with Russian Railways is unaffected by the recent political upheaval. Russian Railways boss Vladimir Yakunin has been targeted as one of the individuals under US sanctions, and the potential impact of this is causing some alarm to companies. Meanwhile GEFCO, the logistics group formerly controlled by PSA Peugeot Citroen, which sold 75% to Russian Railways in 2012 , announced an annual turnover of €4bn and a net profit of €55m last year.