All of a sudden, Russian private companies falling to pieces

A Forbes piece discusses the recent failures of Russia’s VIM Airlines and Otkritie and B&N banks, all privately owned firms prior to their downfalls. The Forbes column does not attribute the failures of the three large companies — as well as the potential failures of other banks — to western sanctions, but rather to fraud stricter regulations coming from the Russian Central Bank, which is trying to crack down on “the customary cronyism and kleptomania” in the Russian economy.

 

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