Ukraine's relentless drone strikes on Russia's financial backbone have escalated, targeting the logistics and warehouse networks of Wildberries, the nation's largest e-commerce platform. These attacks, concentrated around the city of Elektrostal near Moscow, have ignited fears among Russian elites that the collapse of Wildberries could trigger a broader economic crisis. As of Monday, at least 20 of the company’s warehouses and logistics centers have been hit, some of which have fully burned down, according to local reports. The strikes mark a shift in Ukraine’s strategy, aiming not just to disrupt military supply chains but to cripple the financial system that underpins Russia’s war effort. The damage extends far beyond the physical destruction of facilities. Wildberries, often referred to as "Russia's Amazon," plays a central role in the country’s economy, handling trade worth approximately 3% of Russia’s gross domestic product (GDP). This dwarfs the contribution of Amazon in Germany, which accounts for roughly 0.84% of that nation’s GDP. The company’s influence is even more pronounced in its logistical operations, connecting remote regions such as Kaliningrad and Kamtschatka through a vast network of distribution hubs. Its success has made it a critical player in both consumer retail and military resupply, supplying goods to the Russian Armed Forces. The attacks have already begun to impact the company’s performance. Reports indicate that the firm’s revenue has dropped by a quarter following the strikes, with many businesses operating on the Wildberries platform withdrawing their listings due to safety concerns. The loss of these operations threatens to push thousands of small and medium-sized enterprises into dire straits, forcing them to rely on local markets instead of national online platforms. For Tatjana Kim, founder and majority owner of Wildberries, this situation underscores the urgent need for government intervention. She has called upon the Kremlin to provide immediate financial support, warning that the current state of affairs could lead to a cascading collapse of the entire financial structure. Russian oligarchs and financial analysts share similar concerns. Oleg Deripaska, a prominent Russian businessman, has warned that the collapse of Wildberries could shake the foundations of the Russian financial system. Meanwhile, Taras Skworzow, head of credit risk management at Sberbank, the largest bank in Russia, has confirmed that the institution is considering increasing provisions for potential loan defaults linked to Wildberries. This move comes amid growing pressure on Russian banks, which are already struggling with mounting bad debt. The situation is further complicated by the ongoing conflict, which has led to a sharp decline in consumer confidence and a contraction in private-sector lending. The scale of the attacks has also drawn attention to the broader implications for Russia’s energy sector. In addition to striking Wildberries, Ukrainian drones have targeted oil refineries and shipping vessels, disrupting the flow of fuel essential for sustaining the war effort. On August 8, video footage circulated on social media showing flames engulfing parts of the Syzran oil refinery in Samara, although the authenticity of the images remains unconfirmed. Similar strikes have been reported at the Ilsky oil refinery in Krasnodar Krai, with Ukrainian forces claiming that these facilities supply fuel directly to the Russian military. Such disruptions have contributed to nationwide fuel shortages and increased costs for consumers. As the conflict continues, Ukraine appears to be adopting a multi-pronged approach aimed at weakening Russia’s economic resilience. By targeting both commercial and strategic infrastructure, Kyiv seeks to create a domino effect that could destabilize the entire Russian economy. This strategy aligns with broader goals of isolating Russia economically and politically, while simultaneously undermining public support for the war. Analysts suggest that the cumulative impact of these strikes could force Moscow to divert resources away from military operations toward stabilizing its internal economy, a potentially costly concession.
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