Support The Moscow Times!

Russia's VTB Looks to Court to Solve Mechel's Debt Problems

Andrei Kostin

Russia's VTB bank sees applying to court as the only way to solve steelmaker Mechel's debt problems, state-run RIA Novosti quoted Andrei Kostin, the bank's chief executive, as saying Friday.

Kostin said the bank — one of the main creditors of indebted Mechel — still wanted the firm's debt to be converted into equity but that the company did not support this plan as of now, the Interfax news agency reported.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.