The Russian-Latvian transit consortium

In April 2015 Russian Railways took over 50% of shares in the Latvian railways company Liepajas naftas tranzits (LNT) through the intermediary of its subsidiaries (including Multimodal BV registered in Amsterdam). The financial aspects of this transaction were not disclosed. The company changed its name to Euro Rail Cargo.

The company planned to provide comprehensive services for Russian exporters operating in the transit corridor between Asia and Europe via Latvian ports.

Despite cold political relations between Latvia and Russia following the Russian invasion of Ukraine and mutual economic sanctions, Russia remained interested in transit through Latvian ports and terminals since they have the best locations given the interests of natural resources exporters.

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