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And it's now also linking south toward India and countries in the Persian Gulf, the New York Times reported on Wednesday. AdvertisementIn addition, Russia is also restoring another railway line that would allow it to access Turkey, the Times reported on Wednesday. Russia's push for rail freight follows two years of Western sanctions against the country over its war in Ukraine. The restrictions hit Russia's trade with Europe, traditionally its single largest market. AdvertisementAs Ram Ben Tzion, the CEO of freight vetting platform Publican, told the Times, Russia is creating "a trade route for the pariahs."
Persons: , it's, Ram Ben Tzion, David Szakonyi, Szakonyi Organizations: Service, Bloomberg, New York Times, Times, Business, Reuters, West, George Washington University, Profit Locations: Russia, Moscow, China, India, Persian, Iran, Mumbai, Suez, Turkey, Ukraine, Europe, Policymaking, Russian, Crimea
Brands' continued availability shows the challenge companies face in controlling supply chains when exiting a market. Market leader Wildberries sells old stock from Inditex brands and has almost 17,000 goods in its Zara catalogue. Informal supply routes could lead to more poor-quality goods entering Russia, however, as regulators lose oversight, Ben Tzion said. IKEA brand owner Inter IKEA Group said it sold remaining stock for an undisclosed amount to Yandex as it down-scaled IKEA Retail Russia. IKEA said it was looking into goods being advertised as similar to IKEA online.
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