GENERAL NEWS

Russia transfers USC ownership to VTB Bank

Russia’s official news agency, Tass, confirmed that the full ownership of the Russian shipbuilding monopoly, United Shipbuilding Corporation, had been transferred to VTB Bank at a meeting in Moscow between President Putin and VTB Bank’s ceo, Andrey Kostin, on 10 August. 

A number of shipbuilding enterprises have experienced serious financial problems following their inclusion on lists of sanctioned entities.

Russia’s official news agency, Tass, confirmed that the full ownership of the Russian shipbuilding monopoly, United Shipbuilding Corporation, had been transferred to VTB Bank at a meeting in Moscow between President Putin and VTB Bank’s ceo, Andrey Kostin, on 10 August. 

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