The Russian government is actively reviewing ways to support Russian Post amidst its significant 140 billion rouble debt, as revealed by CEO Mikhail Volkov. The intervention comes as Russian companies, including state giants like Russian Railways, face increased debt costs following a rise in the central bank’s key interest rate.
In efforts to alleviate the financial strain, the central bank recently eased reserve requirements for restructured loans, potentially aiding companies with substantial debts. At a parliamentary hearing, Volkov highlighted the company’s cost-saving initiatives, which include offloading non-core assets, generating an extra 50 billion roubles for Russian Post.
Volkov acknowledged that internal efficiency…