PRESS: Government considers Rusnano's liquidation

MOSCOW, Oct 19 (PRIME) – The Russian authorities can liquidate state-owned nanotechnology company Rusnano due to financial problems exacerbated by sanctions, business daily Vedomosti reported on Wednesday citing a source close to the company.

"They say the financial problems of the development institute were exacerbated after introduction of anti-Russia sanctions, which is why the state company has in fact lost the possibility of servicing its liabilities independently,” the paper said.

“A federal government official said that the government doubted the need to keep the company afloat using budget in the current conditions, they suggested stopping the activities."

A source said that the company could remain an innovation center and keep a policy of prioritized debt repayment, while the final decision with depend on the opinion of the president of Russia.

A Finance Ministry official told Vedomosti that the ministry guaranteed fulfillment of all Rusnano liabilities.

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