State owned entities are the personal slush fund of Putin, so basically little big man is hemorrhaging his personal cash. That money is also how he controls the oligarchs and pays for his proxie militaries in Africa etc. Unpaid proxies are quite dangerous.
I see how this may be confusing for you, but not everything Russian is influenced by Kremlin. The Moscow Times is one of the few remaining mass media that still provides unbiased daily news on Russia. It is banned in Russia. People in Russia risk being thrown in jail just for citing this newspaper.
given those losses, it points to difficulty in generating liquidity...
Thus,
short-term assets can quickly become inferior to
short-term liabilities,
which is the exact definition of
bankruptcy.
Comments
https://www.moscowtimes.ru/2025/03/21/rosneft-vtoroi-god-podryad-poluchila-bolee-trilliona-rublei-pribili-nesmotrya-na-sanktsii-a158752
always recall that these reserves are accounting entries,
not cash. [calling BS here]
How much goodwill & non-material or non-liquid assets do they have? If it is greater that the 'reserves',
then it is **not** there to be called upon.
then.. /2
Thus,
short-term assets can quickly become inferior to
short-term liabilities,
which is the exact definition of
bankruptcy.