According to Andrei Kostin, head of VTB, who spoke to reporters at the EEF, after VTB received 100% of USC shares in trust in 2023 for five years by decision of President Vladimir Putin, USC underwent a major audit by the Ministry of Finance. As chairman of the board of directors of USC, he told the press about the results of the audit.
We asked the Ministry of Finance to analyze the financial condition of USC. The Ministry of Finance, represented by the Treasury, worked for eight to nine months and concluded that the shortage of funds with a perspective until 2030, specifically the five years that we will manage, amounts to 1.029 trillion rubles. These are the figures from the Ministry of Finance.
According to Kostin, the announced amount is "not an investment at all, it's the current state, just to survive the next five years and not collapse." This money will only help USC continue its work, pay off obligations without sources of funding, and complete unprofitable orders.
The results of the USC audit have already been brought to the attention of the government leadership, and they are currently being verified with the Ministry of Finance and the control and audit department of the Cabinet.
Earlier, plans were announced for USC to build a new shipyard in Vladivostok — this will require at least $5 billion. The new facility will be able to produce up to 12 ships per year for the Russian merchant fleet.
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