Russia condemns North Korea’s new missile testRussian Politics & Diplomacy May 29, 10:17
Trump’s administration seeks to restart Ukraine peace process — mediaWorld May 29, 9:38
WannaCry ransomware may be authored by hackers from Southern China — mediaWorld May 29, 8:58
Russia’s Eastern Military District receives new shipment of Terminator helicoptersMilitary & Defense May 29, 8:18
North Korea test fires another missileWorld May 29, 1:29
Russia’s Zvyagintsev wins Jury Prize at 70th Cannes Film Festival with his LovelessSociety & Culture May 28, 21:32
Three Russian tourists hurt is road accident with tourist minibus in TurkeySociety & Culture May 28, 18:58
Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Both options envisage at least a temporary replacement of the company’s owner, the economic aide said.
One option is for state development corporation Vnesheconombank to join Mechel’s shareholders and the other scheme is for the company’s creditor banks to participate in the mining giant’s capital without Vnesheconombank, Belousov said.
“The choice has to be made by Mechel’s creditors and owners,” the economic aide said, adding a decision on the company’s fate was likely in the coming days.
Russia’s largest lenders Gazprombank, Sberbank and Gazprombank are among Mechel’s major lenders.
VTB Group CEO Andrei Kostin said in mid-July that the state should decide on whether it would participate in the company’s rescue and which rescue plan should be used in this case. If the government decides against its participation, creditor banks should elaborate some common approach, Kostin said at the time.
The VTB Group CEO also said that Mechel was a working asset and its problems would be resolved in one way or another.
Russian Industry and Trade Minister Denis Manturov earlier said the government was discussing various options of Mechel’s rescue, except financial injections from the budget.