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Russian Railways Says Libyan Conflict Cost 6.5 Billion Rubles

OAO Russian Railways, the state-run rail monopoly, booked 6.5 billion rubles ($222 million) in asset-impairment charges because of Libya’s military conflict.

Russian Railways had to suspend building a $1.5 billion railroad linking Sirte and Benghazi and lost money after ongoing construction works went unpaid, the Moscow-based company said in its earnings report for the six months ended June 30.

To contact the reporters on this story: Ekaterina Shatalova in Moscow at eshatalova@bloomberg.net; Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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