In this regard, RZD International, which is in charge of the holding's foreign projects, has stopped work on electrification of the Garmsar - Inche Burun line and closes a branch in Tehran.
"JSC RZD [Russian Railways] expresses confidence that withdrawal of RZD International from the Garmsar - Inche Bourun Project shall not affect the partnership between Russian Railways and Iranian Railways, which is carried out first of all in the field of international logistics including the International North - South Transport Corridor development," the company wrote in a statement.
JSC RZD is Russian Railways, and RZD International is the part of JSC RZD that handles international contracts, so that the contract does not impact on other projects around the world.
What we don't know is whether there is another Russian company, that doesn't operate anywhere else around the world, that has stepped in to do the work.
Hopefully that is the case...
We can complain about it, but at the end of the day if they are making 2 billion on this project but US sanctions could cost them 20 billion then it makes sense to drop out. It would also make sense to screw any American subcontractor as far as you can or just eliminate them from your business and start making yourself more sanction proof.