How the war has crippled Russian business profits
In September, the profits of Russian companies fell by 19% compared to last year – the worst figure in two years. The coal industry is facing the most severe challenges, burdened with multibillion-dollar debts, largely due to the rising cost of credit.
While businesses across Russia struggle to stay afloat, officials hypocritically claim that the decline in tax revenues “came as a surprise.”
As long as the war in Ukraine persists, these problems will only continue to grow.
