Victim of the sanctions...first russian mega corporation Mechel bites the dust - 71.000 lose job

[MarkusS]

The biggest russian producer and mining giant "Mechel" announced bancruptcy. The russian government tried since weeks to safe it and now stopped this plans because lack of money. russian economy minister Alexej Uljukajew said: " we must face reality.."

The end of Mechel will cost 71.000 jobs in russia.

71.000 Jobs in Gefahr: Russischer Stahlriese Mechel steht vor Insolvenz - Wirtschaft | STERN.DE

Bankruptcy most likely scenario for indebted Mechel-economy minister| Reuters

 

[Hasbara Buster]

In the long term, the main victim will definitely be the dollar and thereby Western hegemony. I say, good riddance.

 

[Kabira]

Sanctions are worst then even war, look at Iran and now Russia.

 

[zzzz]

The biggest russian producer and mining giant "Mechel" announced bancruptcy. The russian government tried since weeks to safe it and now stopped this plans because lack of money. russian economy minister Alexej Uljukajew said: " we must face reality.."

The end of Mechel will cost 71.000 jobs in russia.

71.000 Jobs in Gefahr: Russischer Stahlriese Mechel steht vor Insolvenz - Wirtschaft | STERN.DE

Bankruptcy most likely scenario for indebted Mechel-economy minister| Reuters

Bankruptcy means the company will default on its debt and continue the work, dumby.

 

[MarkusS]

Bankruptcy means the company will default on its debt and continue the work, dumby.

nope. It has no money left and can´t operate. Its main debtors are russian banks. That means russian banks must default the debt. And the workers lose their jobs. Its perfect

 

[zzzz]

nope. It has no money left and can´t operate. Its main debtors are russian banks. That means russian banks must default the debt. And the workers lose their jobs. Its perfect

Yep, they will default on its debt, get the bailout and no one losses the job. This is how things work.

 

[MarkusS]

Yep, they will default on its debt, get the bailout and no one losses the job. This is how things work.

nope, this is not how things work. According to your own economy minister it will be shut down, the banks lose the money (taken from russian small people) and the company dissloved and the valuable parts sold. good news!

 

[zzzz]

nope, this is not how things work. According to your own economy minister it will be shut down, the banks lose the money (taken from russian small people) and the company dissloved and the valuable parts sold. good news!

You started dulusioning again. Took your meds today?

 

[MarkusS]

You started dulusioning again. Took your meds today?

your own media and government report that its down and 71.000 jobs lost. Its over buddy. And i love that your business slams into the ground.

 

[zzzz]

your own media and government report that its down and 71.000 jobs lost. Its over buddy. And i love that your business slams into the ground.

Calm down. No need to be nervious. Everything is fine. All jobs in place. Believe me. Just take the meds.

 

[MarkusS]

Calm down. No need to be nervious. Everything is fine. All jobs in place. Believe me. Just take the meds.

Let us see and wait. Your ailine Dobrolet (or how it was called) already went down the toilet. And russias biggest travel corporation...went down the toilet.

 

[zzzz]

Let us see and wait. Your ailine Dobrolet (or how it was called) already went down the toilet. And russias biggest travel corporation...went down the toilet.

In spite of a stagnation in GDP, Russia has seen an unusual increase in industrial activity. According to research conducted by HSBC Bank and the Gaidar Institute for Economic Policy, Russia has posted an increase in industrial production for the third month in a row. "The manufacturing sector is quite effective in meeting demand and, in spite of the overall economic situation and expert forecasts, it has maintained positive growth,” the Gaidar Institute study reads.
According to the authors of the study, engineering and metallurgical companies, which secured an additional share of the domestic market as a result of the ban on supplies from Ukraine, have posted better results.
They were joined in August 2014 by sectors focusing on domestic consumption, including the food industry, which is also counting on replacing some imported food products. However, according to analysts, import substitution could not have started in June 2014, and the industrial growth is in fact a consequence of the events of February-March 2014, when the ruble underwent a slight devaluation.
According to UFS IC senior analyst Alexei Kozlov, Russian industrial production rose in August for several reasons, the first of which is “the increase in demand for products from the metallurgical sector, as a result of the need to replace the supply of products from Ukraine,” he said.

Ruble devaluation and sanctions result in growth for Russian manufacturing | Russia Beyond The Headlines

 

[senheiser]

The biggest russian producer and mining giant "Mechel" announced bancruptcy. The russian government tried since weeks to safe it and now stopped this plans because lack of money. russian economy minister Alexej Uljukajew said: " we must face reality.."

The end of Mechel will cost 71.000 jobs in russia.

71.000 Jobs in Gefahr: Russischer Stahlriese Mechel steht vor Insolvenz - Wirtschaft | STERN.DE

Bankruptcy most likely scenario for indebted Mechel-economy minister| Reuters

Russia Unemployment Rate Down to 4.8% in August

 

[DingDong]

Enron announced bankruptcy as well. India remained under western economic sanctions for several year, had zero impact over our economy. Countries like Myanmar, Iran, North Korea have been under sanctions.

Russian Economy has been under pressure for several years, sanctions may have made the situation a little worse. But please stop taking too much credit.

 

[senheiser]

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19.09.2014 trends of the Russian and global steel production by 7 months of 2014 from LenSpecSMU

In the first half of 2014, growth in the steel industry amounted to 3.9%, compared with the same period of 2013. The leader of Korea, she had the best performance (8,7%), while the Korean company ascertain increasing competition from China, which in the first 7 months showed an increase of 5.8%.

Russian manufacturers in July reached the highest this year growth of 7.8%. "The basis of the rise of the domestic steel industry is the expansion of demand in the domestic market, - says General Director of metal trading company "Inspectall" Igor Belkin, - production growth was driven, primarily, by the commissioning of new plants."

In the first seven months of 2014 steel production in Russia amounted to nearly 41.5 million tons, which is 2.5% more than in the same period of 2013.

On the industry as a whole is strongly influenced by the world's current political situation. So, Turkey's exports of rolled - first of all, in war-torn Iraq. The Ukrainian iron and steel industry in July already beginning to feel the effects of war on the Donbass - month smelting Ukrainian steel fell by 11.7%, compared with the same period in 2013. In August, the decline is predicted to 20%, with an optimistic assessment.