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<ul class="summary-list"><li>Russia is investing in rail transportation to bypass Western sanctions.</li><li>Key rail lines are being upgraded to link Russia with China, India, Iran, and countries in the Persian Gulf.</li></ul>Forget ships — Russia is turning to rail transportation to skirt Western sanctions.Moscow was already planning to pour billions of dollars into <a target="_blank" href="https://markets.businessinsider.com/news/commodities/russia-china-trade-oil-rail-system-sanctions-west-ukraine-war-2024-3">upgrading two key eastern rail lines</a> that connect Russia with China, <a target="_blank" rel="noopener nofollow" href="https://www.bloomberg.com/news/articles/2024-03-07/russia-to-bolster-famed-eastern-railroads-as-china-trade-booms">Bloomberg</a> reported last week.And it's now also linking south toward India and countries in the Persian Gulf, <a target="_blank" href="https://www.nytimes.com/2024/03/13/world/europe/russia-trade-economy-ukraine.html">The New York Times</a> reported on Wednesday. This includes a new 100-mile stretch of railway that costs $1.7 billion and is designed to link up Russia and ports in Iran — which in turn will help Russia connect to the Indian trading hub of Mumbai, the Times reported. The construction of the railway is scheduled to start this year.Russia hyped its train line with Iran as a new link that could rival the Suez Canal as a major trade route, <a target="_blank" href="https://www.reuters.com/world/russias-putin-irans-raisi-oversee-railway-deal-signing-2023-05-17/">Reuters</a> reported in May when the two sides signed a deal for the railway.In addition, Russia is also restoring another railway line that would allow it to access Turkey, the Times reported on Wednesday.Russia's push for rail freight follows two years of Western sanctions against the country over its war in Ukraine. The restrictions hit Russia's trade with Europe, traditionally its single largest market.But Russia has managed to keep its economy humming by pivoting its trade to alternative markets including <a target="_blank" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">India, China</a>, and <a target="_blank" href="https://markets.businessinsider.com/news/currencies/dedollarization-russia-iran-agreement-us-dollar-currency-bilateral-trade-2023-12">Iran</a>, the last of which is also <a target="_blank" href="https://www.statista.com/chart/27015/number-of-currently-active-sanctions-by-target-country/">heavily sanctioned</a> by the West.The new rail connections stand to help Russia maintain imports amid sanctions.As Ram Ben Tzion, the CEO of the freight-vetting platform Publican, told the Times, Russia is creating "a trade route for the pariahs.""Developing relations with the global south is basically one of Russia's biggest priorities," David Szakonyi, a political-science professor at George Washington University, told Business Insider.Szakonyi, who's the author of "<a target="_blank" class="" href="https://affiliate.insider.com?amazonTrackingID=biauto-64876-20&amp;h=475f26c5df082792371de5350bda738415a028e68a7931dcb0cbb4875ef3676e&amp;postID=65f258b148eec3d3e78987fb&amp;postSlug=russia-economy-building-trade-route-train-rail-india-iran-2024-3&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FPolitics-Profit-Elections-Policymaking-Comparative%2Fdp%2F1108491634">Politics for Profit: Business, Elections, and Policymaking in Russia</a>," said the new trade links wouldn't just aid Russia's oil and gas sales to alternative markets but would also help the country import goods that it cannot produce itself because of a lack of advanced technology or <a target="_blank" href="https://www.businessinsider.com/russia-lacks-workers-ukraine-war-labor-crisis-worker-shortage-2023-12">manpower</a>."To have this economy not collapse, the Russian government needs to continue to cultivate strong ties with just about any country that is not sanctioned yet," he said. "So I think we're going to see a lot more of that type of economic diplomacy in the next couple of years."Russia has been creative in <a target="_blank" href="https://www.businessinsider.com/russia-putin-preparing-west-sanctions-decade-since-ukraine-crimea-annexation-2022-6">skirting sanctions</a> since it annexed Crimea in 2014, so the West should "think like they do" and be one step ahead of Moscow to beat them at their game, Szakonyi said."We should expect the Russians to adapt and evolve," he said, "rather than pretend that this current set of measures is going to fix the problem forever."

Russia's grand railway plan to get around Western sanctions is about to get even bigger

<keyword id="20018917" type="General" weightage="20" keywordseo="Capital-expenditure" source="keywords">Capital expenditure</keyword> on the <keyword id="19914937" type="General" weightage="20" keywordseo="Railways" source="keywords">Railways</keyword> has increased by 77 per cent over the past five years with significant investments in the construction of <keyword id="22505706" type="General" weightage="20" keywordseo="new-lines" source="keywords">new lines</keyword>, <keyword id="20375816" type="General" weightage="20" keywordseo="gauge-conversion" source="keywords">gauge conversion</keyword> and doubling, the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24 said on Monday. According to the survey tabled in Parliament by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword>, in the financial year 2019-2020, the capital expenditure was 1.48 lakh crore which was increased to ₹2.62 lakh crore in 2023-24. "<keyword id="19909154" type="General" weightage="20" keywordseo="Indian-Railways" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Railways" meta.hostid="346" meta.entityid="Indian Railways">Indian Railways</keyword>, with over 68,584 route km (as of March 31, 2024) and 12.54 lakh employees (as of April 1, 2024), is the fourth largest network in the world under single management," the survey said. Highlighting the initiatives taken by the Railway Ministry for the enhancement of operations and services, the survey mentioned Amrit Bharat Station Scheme, Mumbai-Ahmedabad High Speed Rail (MAHSR) project and Dedicated Freight Corridors (DFCs) with the progress made in these respective <keyword id="19900581" type="General" weightage="20" keywordseo="projects" source="keywords">projects</keyword>. According to the survey, Amrit Bharat Station Scheme, launched in August 2023 for development of stations on a continuous basis, involves preparation of master plans and its phased implementation to improve amenities, building improvements, multimodal integration, and sustainability. It said that 1,324 stations have been identified for upgradation so far. Talking about another initiative, Mumbai-Ahmedabad High Speed Rail (MAHSR) project, the survey said that under this 508-km project, executed with cooperation from the government of Japan, land acquisition and civil conduct award have been completed. "Overall physical progress of 41.7 per cent has been achieved and financial expenditure of ₹59,291 crore was incurred until 31st March, 2024," the survey said. "Two DFCs are under implementation namely the eastern DFC with route length of 1,337 kilometre and the western DFC with route length of 1,506 kilometre," it added. It further stated that by the end of FY24, 96.1 per cent of the total DFC route length has been completed. Highlighting other major achievements, the survey said that the Railways achieved its highest-ever production for both locomotives and wagons in FY24. "Fifty one pairs of <keyword id="19922877" type="General" weightage="20" keywordseo="vande-bharat" source="keywords">Vande Bharat</keyword> have been introduced until March 2024. The fast pace of infrastructure augmentation has been the result of a substantial increase in financial allocation along with close project monitoring and regular follow-up with stakeholders for expeditious land acquisition and clearances," the survey said. It added, "High-speed, long-distance Vande sleeper trainset coaches having features like quick acceleration, diffused lighting, automatic doors and global positioning system-based passenger information system are under development." According to the survey, the Railways is also planning to introduce Vande metro trainset coaches with features such as sealed wider gangways, centrally controlled automatic sliding doors, CCTVs for safety and surveillance, route map indicator, passenger information and infotainment system, fire detection system and aerosol-based fire suppression system. "The first lot is expected to be turned out in FY25," it said. "Railways has taken several initiatives for providing a clean environment in and around railway stations and trains, such as replacement of conventional toilets with bio-toilets on coaches leading to clean tracks, segregation of bio-degradable/non bio-degradable waste, solid waste management and discouraging use of single use plastic," the survey added.

Capital expenditure on Railways increased by 77% over 5 years: Economic Survey

<ul class="summary-list"><li><keyword id="13602284" type="UNKNOWN" weightage="60" keywordseo="russian-railways" source="Orion">Russian Railways</keyword> has become the first company in the country to official default on its debts since the Ukraine war began.</li><li>A global financial committee ruled on Monday it had failed to pay coupons on $268 million of <keyword id="35147" type="UNKNOWN" weightage="60" keywordseo="bonds" source="Orion">bonds</keyword>, due March 14.</li></ul>A global financial committee has ruled Russian Railways has tumbled into default after the company failed to make interest payments on $268 million of bonds, due to Western sanctions that have stymied Russia's access to the global financial system.The European section of the Credit Derivatives Determinations Committee <a href="https://www.cdsdeterminationscommittees.org/documents/2022/04/emea-dc-meeting-statement-11-april-2022.pdf/">ruled</a> on Monday that the state-owned company had failed to make interest payments on the bonds due on March 14.It made Russian Railways the first official corporate default in the country since the invasion of Ukraine began in late February.The CDDC is a committee of financial institutions who meet to decide whether a company has defaulted. A ruling from the committee is a key step in allowing investors in <a href="https://www.businessinsider.com/personal-finance/credit-default-swap">credit-default swaps</a> — contracts that act as insurance against defaults — to receive payouts.Despite the ruling, Russian Railways argued in a statement on Tuesday that it had fulfilled its obligations on the Swiss franc bond worth $268 million, as it had tried to pay but had been blocked due to sanctions, Bloomberg reported.The ability of Russia's companies and its government to pay their foreign-currency debts has been seriously curtailed by Western sanctions put in place after Vladimir Putin's invasion of Ukraine on February 24.The US and its allies have frozen the central bank out of the bulk of its roughly $600 billion of foreign currency reserves and directly sanctioned companies, including Russian Railways.Last week, <a href="https://markets.businessinsider.com/news/bonds/russia-default-debt-bonds-payment-rubles-us-dollars-treasury-sanctions-2022-4">the US Treasury blocked</a> the government from making dollar debt payments using accounts at American banks, further freezing the two countries' financial relationship.Goldman Sachs, Bank of America, and Deutsche Bank were among the institutions to vote "yes" on the motion that Russian Railways had defaulted on its debts, CDDC documents <a href="https://www.cdsdeterminationscommittees.org/documents/2022/04/dc-decision-11-04-22-joint-stock-company-russian-railways.pdf/">show</a>.Russian Railways said in Swiss <a href="https://www.six-group.com/en/products-services/the-swiss-stock-exchange/market-data/news-tools/official-notices.html#/notice-details/274279">filings</a> in March that it had tried to make the payments, but had been blocked due to "legal and regulatory compliance obligations within the correspondent banking network."A similar <a href="https://markets.businessinsider.com/news/bonds/russia-debt-default-what-next-lawyer-explains-bonds-sanctions-ukraine-2022-4">debate is raging</a> over whether the Russian government has entered default, after it attempted to make $650 billion of payments on two dollar bonds last week, but was blocked by the US Treasury.The CDDC has been asked to rule on whether the Russian government itself is now in default. Russia still has 22 days remaining of a 30-day grace period in which to make the payment in dollars, although ratings agency S&amp;P has said such an outcome is unlikely.Read more: <a href="https://www.businessinsider.com/investing-french-election-strategy-stock-bond-market-outlook-experts-europe-2022-4" target="_blank" rel="noopener noreferrer">8 investing experts share their markets outlook for the French election — including how a shock Marine Le Pen win could impact stocks and bonds</a>

Russian Railways becomes first company to officially default in the country, as Western sanctions jam the financial system

<ul><li><keyword id="6361126" type="COMPANY" weightage="20" keywordseo="western-railway">Western Railway</keyword>, a government body that is known for its wit and humour on social media, had an important message to give this <keyword id="48284" type="CITY" weightage="20" keywordseo="navratri">Navratri</keyword>. </li><li>It launched a campaign called #HarNaariEkShakti to encourage more women to join the workforce.</li></ul>India’s busiest urban rail network, <keyword id="182986" type="COMPANY" weightage="20" keywordseo="Mumbai-locals">Mumbai locals</keyword>, that carries 80 lakh people every day, shut down on March 22 to curb the spread of Coronavirus, for the first time in its history. Now that Mumbai Locals have opened for women and essential services employees, Western Railway has upped its social media game. To celebrate Navratri, a festival that is about worshipping 9 Devis and women's strength, the government body uploaded one post each day that aimed to bring its women employees to the forefront. It launched a campaign called #HarNaariEkShakti to encourage more women to join the workforce, celebrate their female staff in different departments and break gender stereotypes that stop women from pursuing their dreams. <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="43" retweetcount="7" status="Showcasing the pillar of strength, hard work, patience, and pride of WR.This #Navratri, WR introduces you to its… https://t.co/yMZr0wpwv8" createdat="1603626073000" id="1320329562983559170"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="69" retweetcount="9" status="दशहरा बुराई पर अच्छाई की विजय का प्रतीक है। इस अवसर पर आइए, मिल कर महिलाओं के खिलाफ रूढ़ियों को नष्ट करने का निश्चय… https://t.co/LJBHvhPLAm" createdat="1603606779000" id="1320248642096173056"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="68" retweetcount="7" status="प्रीति कुमारी जी का बचपन से ही चुनौतीपूर्ण काम करने का सपना और संकल्प था।पश्चिम रेलवे की पहली महिला मोटरमैन बनकर उ… https://t.co/O1FAmVMvDd" createdat="1603616815000" id="1320290735501897728"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="43" retweetcount="7" status="शायद ही ऐसा कोई क्षेत्र ऐसा होगा, जिस में महिलाएं काम नहीं करती होंगी। सरिता जी ऐसी ही बुलंद हौसले वाली महिला हैं… https://t.co/X0NRGvWrdT" createdat="1603455307000" id="1319613319724945408"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="41" retweetcount="4" status="हौसलों की उड़ान! श्रीमती फाखरा पश्चिम रेलवे में असिस्टेंट लोको पायलट के पद पर काम कर रही हैं। मेहनत और परिवार के… https://t.co/AbgbN9ovKR" createdat="1603539987000" id="1319968494440476673"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="35" retweetcount="7" status="श्रीमती जयवंती रावत ने पति के निधन के बाद पश्चिम रेलवे में उनके स्थान पर काम मिलने पर अपनी जिम्मेदारी को अच्छी तरह… https://t.co/o9NnCs2Ezo" createdat="1603368767000" id="1319250346556862465"></div> <div type="twitter" handle="WesternRly" handlename="Western Railway" image="http://pbs.twimg.com/profile_images/948537613899784195/3zCRyjco_normal.jpg" favoritecount="82" retweetcount="9" status="मुंबई सेंट्रल कार शेड में कार्यरत सुश्री स्टेला नेल्सन पिछले 13 सालों से पश्चिम रेलवे में काम कर रहीं हैं।अपने सह… https://t.co/KaNzDwjjmM" createdat="1603280977000" id="1318882128294072322"></div> <div type="Article" hostid="261" msid="74865221" title="To break the COVID-19 chain, Mumbai locals stopped working; it is now using social media to reiterate the importance of social distancing" mstype="2" mssubtype="0"></div>

How Western Railway celebrated Navratri by bringing its women employees to the forefront

The <keyword id="6361126" type="COMPANY" weightage="20" keywordseo="western-railway">Western Railway</keyword> is facing an annual revenue loss of about ₹5,000 crore due to <keyword id="8912717" type="UNKNOWN" weightage="20" keywordseo="covid-19-crisis">COVID-19 crisis</keyword> which affected services and led to a drop in the number of <keyword id="1180047" type="PERSON" weightage="20" keywordseo="train-travellers">train travellers</keyword>, a <keyword id="160569" type="POSITION" weightage="20" keywordseo="senior-official">senior official</keyword> has said. Many people are still reluctant to travel by train due to fear of the coronavirus, Western Railway's General Manager Alok Kansal told reporters here on Tuesday. "We are incurring an annual revenue loss of ₹5,000 crore in coaching trains (<keyword id="6408889" type="UNKNOWN" weightage="20" keywordseo="passenger-trains">passenger trains</keyword>) segment due to the COVID-19 crisis," he said. Among the trains being currently operated by the WR, some are running with only 10 per cent occupancy, he said. Kansal said before the outbreak of COVID-19, the Western Railway used to run about 300 passenger trains. But, the government stopped passenger trains across the country in March last year to prevent the spread of COVID-19. He said the operation of passenger trains is now coming back on track and this is expected to improve the Western Railway's revenue. "During the last 11 months, the Western Railway has gradually restarted 145 out of its 300 passenger trains... about 50 per cent of our passenger trains have been resumed," he said. In the next seven days, the WR is going to restart six more passenger trains in <keyword id="6355554" type="LOCATION" weightage="20" keywordseo="Madhya-Pradesh">Madhya Pradesh</keyword>, he said. Kansal clarified that the Western Railway is currently running its passenger trains as <keyword id="49159" type="PERSON" weightage="20" keywordseo="Special-trains">special trains</keyword> in view of the COVID-19 guidelines, and only passengers having reserved tickets are allowed to travel. During the COVID-19 lockdown last year, the WR ran 1,234 Shramik Special trains from May 1 to 31 to ferry about 19 lakh people to their destinations in different states, he added. Kansal was in MP for an inspection of the Indore- Dewas-Ujjain-Ratlam section of the Railways. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/sachin-tendulkar-picks-up-a-strategic-stake-in-edtech-unicorn-unacademy-will-also-develop-a-sports-learning-category-on-the-platform/articleshow/81166377.cms">Sachin Tendulkar picks up a strategic stake in edtech unicorn Unacademy – will also develop a sports learning category on the platform</a> <a href="https://www.businessinsider.in/stock-market/news/heranba-industries-ipo-is-off-to-a-decent-start-heres-why-investment-experts-and-retail-investors-are-excited/articleshow/81169631.cms">Heranba Industries IPO is off to a decent start — Here’s why investment experts and retail investors are excited</a> <a href="https://www.businessinsider.in/defense/news/dassault-aviation-has-an-india-it-services-unit-offering-defence-msmes-a-digital-trial-room-where-they-can-test-their-products-to-bag-more-contracts/articleshow/81183313.cms">INTERVIEW: Dassault Aviation has an India IT services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts</a>

You Searched For "Western Railways" and got 5 results

Russia's grand railway plan to get around Western sanctions is about to get even bigger

Huileng Tan

Capital expenditure on Railways increased by 77% over 5 years: Economic Survey

PTI

Russian Railways becomes first company to officially default in the country, as Western sanctions jam the financial system

Harry Robertson

How Western Railway celebrated Navratri by bringing its women employees to the forefront

BI India Partner

Western Railway faces annual revenue loss of ₹5000 crore due to COVID-19 crisis

PTI

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