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

... company did not manage to receive the entire amount of the loan from VTB, having accepted only €82 million. The attempts of the management to seek financial assistance from the government, to withdraw the previously concluded contract with VTB from sanctions or to obtain a loan from the Croatian Bank for Reconstruction and Development were not successful. Unlike South Korea, where the country's authorities agreed to help shipbuilding companies survive the geopolitical crisis, the Croatian government did not have money to save the shipyard....

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