Russia weighs state support for Wildberries after Ukrainian drone strikes destroy ~10% of storage

Published Jul 29, 11:30 AM UTC

Russian authorities are considering state support for Wildberries, the country's largest online retailer, after Ukrainian drone strikes destroyed at least seven warehouses, wiping out roughly 10% of its storage capacity. State-controlled bank VTB is expected to play a key role in any assistance package, which may include loans, tax relief, or subsidies for the company or its sellers. The attacks also impacted thousands of small businesses selling through the platform. Wildberries needs at least 30 days to assess damage before compensating sellers. The Kremlin confirmed government-level talks but stressed no final decision has been made. Ukraine stated the strikes targeted Wildberries due to its role in supplying the Russian military and its ties to VTB. The company reported debt of Rbs830bn ($10.58bn) under Russian accounting standards.