Wildberries founder brands strikes 'terrorism' as Sberbank warns of rising loan losses

· Business RUSUKR
Part of Russia-Ukraine War

Wildberries founder Tatyana Kim has characterised the Ukrainian drone campaign against her company as "terrorist acts" targeting civilians, after strikes since July 18 hit roughly a dozen of the e-commerce giant's facilities across Russia.

The financial fallout is widening: Sberbank warned it may need to increase loan-loss provisions as Wildberries' cash-flow outlook deteriorates, with up to 300 smaller sellers already requesting debt restructuring. A former central bank adviser said the attacks have pushed Russia's insurance market into crisis. Damage to goods in Moscow and Tambov warehouses alone may reach $2.9 billion, an analyst estimated, and the most recent strike hit a warehouse in Novosemeikino overnight Sunday.

Wildberries, which says it operates in 10 countries, is working with the Russian government to cushion sellers and has paid a second round of compensation to nearly 100,000 vendors whose goods were destroyed. Kyiv has said it targeted the retailer because it supplies the Russian military.

Story development

  1. Wildberries founder brands strikes 'terrorism' as Sberbank warns of rising loan losses
  2. Ukrainian drone campaign damages 10% of Wildberries logistics network as seller demands tax relief
  3. Ukrainian drone strike sets fire to Wildberries warehouse near St Petersburg

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