Russian Banks Ready to Restructure Russian Railways Debt

Russian banks, including VTB, are willing to help Russian Railways manage its large debt.

They want to delay payments and restructure loans, but only if the central bank doesn't make them set aside more money for these loans.

The banks have rejected a plan to turn some of the debt into shares because it's complicated and not allowed by the central bank.

Russian Railways needs to show a financial plan to prove it can pay back the money.

The banks are waiting to see this plan before making any final decisions.

The debt is partly due to high interest rates and some money-losing operations, like shipping coal to China.