Russia plans to halt exports of oil products through Baltic ports
Latvian Latvijas Dzelzceļš is preparing for the moment when Russian Transneft will halt transit of oil products through Baltic ports until 2018, LDz manager Edvins Berzins said in an interview to Rīta Panorāma programme on Tuesday, 13 September.
The news about Transneft’s plans to halt transit of oil products was announced on Monday, 12 September, according to information from lsm.lv.
Berzins said this announcement was not surprising. Russia has been investing funds into the development of its own ports for years. With that, it is only logical that the country would want to return its investments.
«We experience declines year after year,» – Berzins said. Estimates suggest Latvia may lose nearly ten million containers annually.