Russian state companies and banks are cutting staff and scrapping projects as they prepare for another surge of foreign debt repayments of at least $35 billion before the end of the year amid falling energy export revenues and a weaker ruble.
Russia's War Against Ukraine
Reuters: Russian firms, banks shrink as they face fresh peak debt payment
Russia's President Vladimir Putin (L) speaks with the Central Bank Governor Elvira Nabiullina during their meeting at the Kremlin in Moscow on Aug. 10.
