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Croatia’s largest shipyard goes bankrupt due to sanctions against VTB

... financed the project for €30 million, while the total cost of the work was estimated at €150 million. Therefore, the company's management expected €120 million from a Russian credit institution. In April 2022, the situation was complicated by the EU sanctions against VTB, which were joined by the Croatian authorities. By this time, two ships were already being built on the stocks of the shipyard. At the same time, the company did not manage to receive the entire amount of the loan from VTB, having ...

Russian air cargo carriers may go bankrupt

... heavy transport liner ended up in airspace closed to Russian aircraft. Canada, the United States and European countries were the main markets where Russian carriers flew. Not only aircraft, but also the cargo they delivered to Russia fell under the sanctions. Among them, there are equipment for energetics, space exploration, development of shipbuilding. Experts note that Southeast Asia, the countries of which have not imposed sanctions against Russia, could become a survival option for cargo carriers....

Nord Stream II preparing for bankruptcy

The operator of the Nord Stream 2 project is about to declare bankruptcy in a few days. The company was in a state of collapse against the backdrop of Western sanctions and a Russian special operation that unfolded on the territory of Ukraine. It is reported that the application will be submitted to the Swiss court of Zug, which is competent to consider this issue. An application to the document should be ...

Foreign companies that are currently leaving Russia to be urgently driven to bankruptcy

... condemnation of the actions of the Kremlin by Western countries, international brands and foreign firms hastily began to leave Russian market . Some companies have suspended their activities. Many cite currency volatility, difficulties in banking due to sanctions, and risks associated with logistics. According to Andrey Belousov, the First Deputy Prime Minister of the Russian government, many foreign corporations are forced to leave the market, as they face pressure from the regulators. Such pressure,...

European Central Bank predicts bankruptcy of Sberbank Europe

... million. However, information about transactions regarding credit structures in the Czech Republic and Austria has not been published. We should recall that the consequence of the start of Russian special operation in Ukraine was the introduction of sanctions against Sberbank and its subsidiaries by the United States. The credit institution was included in the CAPTA register, after which it’s correspondent accounts have been limited in the states. And although the bank's funds themselves are not ...

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