Russia's Central Bank Urges Lenders to Restructure Loans for Businesses Hit by Warehouse Attacks

Deep News08-10 17:40

Russia's Central Bank issued a letter on Monday recommending that credit institutions assist businesses affected by Ukrainian drone strikes on logistics centers and warehouses. Since July 18, at least 20 warehouses belonging to the e-commerce platform Wildberries have been targeted in attacks from Ukraine.

In its correspondence, the Central Bank stated: "Small and medium-sized enterprises that have suffered losses due to attacks on logistics hubs, warehouses, production facilities, retail stores, office spaces, and other buildings may apply for loan restructuring."

Russia's two major banks—Sberbank (Russia's Savings Bank) and VTB (VTB Bank)—along with Wildberries' own Wildberries Bank, have all expressed willingness to provide relief support to affected companies. Sberbank executive Sergei Melamed revealed that the bank has already received approximately 2,000 loan restructuring applications from business operators.

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