Why Half a Million Russians Have Gone Bankrupt Amid Ukraine War The recent European intelligence report on Russia's precarious banking situation is a stark reminder that the country's economic woes run far deeper than its war weary economy.
Amidst the ongoing conflict in Ukraine, half a million Russians have declared bankruptcy, with corporate loans defaulting at an alarming rate.
One of the primary concerns is the sheer scale of "bad" loans issued by Russian banks. Estimates suggest that ten percent of corporate loans are now doubtful – a sharp increase from two years ago.