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.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE