Russian companies began to massively record losses amid ongoing sanctions and growing economic problems. From January to November 2025, 18,2 thousand organizations reported losses totaling 7.5 trillion rubles. This is a record for all time observations, writes “Izvestia”, citing data from Rosstat. For the same period in 2024, business losses were estimated at 7 trillion rubles, and in 2023 – at 4 trillion. The share of loss-making companies last year reached a maximum since the pandemic year 2020 and amounted to 28.8%.
According to Rosstat data, the largest losses are recorded in manufacturing (in particular, in oil refining and metallurgy), wholesale trade and mining (especially coal, oil and natural gas). Also, developers, transport engineering enterprises and light industry are experiencing difficulties.
A major role in the increase in the number of loss-making companies was played by the slowdown in the economy: if in 2024 GDP grew by 4.3%, then in 2025 – by 1%, recalled Natalia Milchakova, a leading analyst at Freedom Finance Global. Mining suffers from sanctions, as well as the strengthening of the ruble, which hit exporters, says economist Ahmed Yusupov. In turn, in the trade sector, the decline is due to high inflation, which led to a reduction in consumer demand, especially in the first half of 2025, noted Milchakova (The Moscow Times).
