"Considering the current situation in the transport sector and the fact that other European carriers are facing with similar problems, we asked the European Commission to evaluate the situation and take actions in order to reduce the negative effects of Russian ban experienced by transport sector", said Arijandas Sliupas, deputy minister of transport and communications of Lithuania.
Russian ban on imports of EU agricultural products affected both the producers and the carriers. However, Lithuanian transportation companies are affected the most since re-exports to Russia accounts for the largest part of the whole export. According to Sliupas, terminated contacts and decreased transportation rates caused by supply increase may cause a wave of transport companies' bankruptcies since the large number of vehicles was purchased through lease financing.
Since Russia imposed restrictions, Lithuanian road transportation volumes have decreased by 19% i.e. over 3,000 runs only in August. National carriers are actively searching for new export markets. Nevertheless, the process is complicated due to the recent increase in the downward trend in transport costs, new business relationship do not compensate loses caused by the Russian ban.
