Transcript of the beginning of the meeting: 

Vladimir Putin: Good afternoon, Mr Yakunin.

Vladimir Yakunin: Mr Putin, I would like to report on certain changes in the company's work. Last time we spoke, we discussed the possible consequences of the crisis. You said with good reason that the crisis would also affect the railway network's performance.

Vladimir Putin: To what extent did railway traffic volumes fall?

Vladimir Yakunin: Although traffic volumes plunged by 33% in January, we expect the situation to stabilise somewhat in February. Current volumes have increased by 5% on January.

Vladimir Putin: In what areas are you posting an increase?

Vladimir Yakunin: This concerns construction industry consignments and coal traffic. Oil traffic has fallen by just 4%. Consequently, we are witnessing a certain recovery.

We said at our previous meeting that Russian Railways was facing economic factors every morning. Naturally, it would be premature to talk about any confirmed stabilisation trends. At any rate, we are posting a certain recovery on January 2009.

Vladimir Putin: Good.