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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 ...

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