Speedy Bankruptcy Offered By Russia As One of Three Choices For Foreign Firms

Speedy Bankruptcy Offered By Russia As One of Three Choices For Foreign Firms
The skyscrapers of the Moscow International Business Centre, also known as "Moskva-City," are seen just after sunset in Moscow, Russia, July 12, 2018. Christian Hartmann/Files
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Russia is offering foreign companies, seeking to exit the country, fast-tracked bankruptcy options as businesses face increasing challenges from western sanctions imposed as a result of Moscow’s initiation of war against Ukraine.

The fast bankruptcy plan “will support the employment and social well-being of citizens so that bona fide entrepreneurs can ensure the effective functioning of business,” said the government.