China has allied itself with Putin’s Russia (Image: Getty)
entrepreneurs are reportedly buying assets as the country continues to suffer .
A company has shown interest in a “loss-making” mine.
OOO Shakhta Inskaya is located in the Novosibirsk Region, and Russian news outlet reports that a Chinese firm is going to acquire 100% of shares.
The site adds that the mine is currently undergoing bankruptcy proceedings in the region’s arbitration court.
A representative of the Inskoy mine, Tatyana Silenko, said: “The Chinese organisation intends to buy a 100% stake in the capital [of the mine], these same Chinese partners have already found buyers for the coal that is in the longwall.”
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Chinese business has started buying out distressed assets from Russian entrepreneurs, Russian media report.According to them, a Chinese company has decided to buy out 100% of LLC Inskaya Mine in Russia’s Kemerovo region, which was on the verge of bankruptcy.Moreover, the…
— Anton Gerashchenko (@Gerashchenko_en)
He is reported to have added: “All our hopes are on them [on the Chinese partners].
“Before the New Year, they came, requested all the documents and said that at the end of January they will give us a final answer on how we will enter into the deal.”
In October, Chinese enterprises anounced that they were ready to finance an enterprise in the Kemerovo region for 2.4 billion rubles, and negotiations are believed to have been held.
The Federal Tax Service (FTS) has filed a claim against the mine amounting to 230 million rubles. But, due to the difficult financial situation, officials have provided a tax payment deferment, glavny.tv writes.
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The China-Russia relationship has got closer (Image: Getty)
“China will make the most of ‘s weaknesses,” Anton Gerashchenko, former advisor to Ukrain’s Internal Affairs Minister, said on X when sharing an update regarding the situation.
It comes as Chinese companies, such as including Cnooc, Shandong Yulong Petrochemical Co and Jiangsu Eastern Shenghong Co, are sending out urgent inquiries to buy crude oil due to fears of disruption to fuel supplies amid tighter sanctions on and Iran, reports.
has said that it has been launching attacks on Russian oil refineries as it seeks to wound ‘s prospects on the battlefield.
On Saturday, troops claimed to have struck one of ’s largest oil refineries in a drone attack. The facility is more than 700 miles into Russian territory.