Vladimir Putin economic desperation clear as 'superpower' is 'bailing out' Russia [View all]
Chinese entrepreneurs are reportedly purchasing Russian assets amid the country's ongoing economic struggles, which has prompted fear of a 'critical revolt' in Russia. A Chinese company has expressed interest in acquiring a "loss-making" mine.
OOO Shakhta Inskaya, situated in the Novosibirsk Region, is set to be fully acquired by the Chinese firm, according to Russian news outlet glavny.tv. They report that Tatyana Silenko, a representative for the mine, confirmed: "The Chinese organization intends to buy a 100% stake in the capital [of the mine], these same Chinese partners have already found buyers for the coal that is in the longwall."
On top of that, it seems this trend of purchasing distressed assets from Russian entrepreneurs - who are said to be among a group of Russians considering 'mutiny' - is catching on, with another Chinese entity set to purchase the entirety of LLC Inskaya Mine in the Kemerovo region, which was teetering on bankruptcy, reflecting the 'turmoil' in the Russian economy which has allegedly caused Vladimir Putin to take 'drastic' action.
The news comes in light of October reports that Chinese companies are willing to inject financing of 2.4 billion rubles into a business in the Kemerovo region ."All our hopes are on them [on the Chinese partners]," Silenko allegedly said.
https://www.msn.com/en-us/money/markets/vladimir-putin-economic-desperation-clear-as-superpower-is-bailing-out-russia/ar-AA1xjslI
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