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THE FINNISH ARENA OWNED BY RUSSIANS MAY BE BANKRUPT DUE TO SANCTIONS

The company managing the Helsinki Hall arena in the Finnish capital may be declared bankrupt. The organization turned out to be insolvent due to sanctions, since it cannot pay the payments made to it by the city authorities and public utilities. The sports and concert venue began its work in the spring of 1997. According to TASS, it is the largest indoor arena in the country. During the hockey ...

MEGAFON RISKS BECOMING BANKRUPT DUE TO SANCTIONS AGAINST ALISHER USMANOV

The founder of the USM holding, Alisher Usmanov, whose main assets are Megafon and Metalloinvest, has been trying to challenge the personal sanctions imposed on him in the European Court since May. In a statement to the EU, he points to the possible bankruptcy of the main companies of the holding, including Udokan Copper. Financial losses, according to Usmanov, can turn out to be "irreparable ...

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 ...

Amsterdam trade bank went bankrupt due to sanctions

A Dutch bank, co-owned by the businessmen Mikhail Fridman and Petr Aven, went bankrupt. The reason for the bankruptcy was sanctions against the entrepreneurs announced by the United States and Great Britain in connection with the start of the military special operation of the Russian Federation on the territory of Ukraine. The bank was not included in the "black list" ...

How Moscow will help business struck by sanctions

Along with the federal support measures in the face of sanctions pressure, regional assistance is being provided, including in Moscow. The authorities of the capital announced a number of areas in which support will be provided to both businesses and the population. What specific measures can entrepreneurs ...

Sanctions threaten Russian companies with technical default

Organizations in Russia found themselves in a state of technical default if they do not pay their debts on foreign currency loans and Eurobonds. Foreign firms block payments from companies whose shareholders are under the sanctions of EU. Some companies have already faced difficulties in conducting financial transactions, while others are still facing similar problems. According to Vedomosti, there are obvious problems with such large organizations as Severstal, whose ...

Sanctions hit charitable foundations and NGOs in Russia

Russian non-profit sector (NPO), which develops charitable projects, has faced a serious threat. The sanctions did more than just reduce the amount of donations that various foundations received from businessmen. The main problem is the supply of medical equipment and medicines, including those that had already been paid for earlier. According to representatives ...

Sanctions drove Russian delivery service Buyk to bankruptcy in US

... Rodion Shishkov in the United States, has filed for bankruptcy and liquidation. It was launched by the founders of the Samokat service in the fall of 2021. And although the owners of the food delivery service themselves did not fall under personal sanctions, it became impossible to develop the business. After the start of the military operation of the Russian Federation on the territory of Ukraine, the owners of the company began to have problems with funding from Russia. Due to this, the company ...

‘Friends’ of Russia: who did not impose sanctions?

The conflict unfolding on the territory of Ukraine has split the global world into those who have imposed sanctions against the Russian state, and those who have abandoned this idea. Some countries expressed support, other states tried to remain neutral. The Chinese authorities have stated that they will not resolve political issues through sanctions. According ...

Spring in Russia began with ‘raining sanctions’

March 1 was marked by the emergence of information about new sanctions against the Russian economy and individuals from all around the world. Japan, Turkey, Canada, South Korea, Singapore and Australia have joined the US, UK and EU sanctions. Six persons of the Russian state fell under Japanese sanctions, including ...

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