Sanctioned Russian shipowner Sovcomflot’s first published financial results since 2021 show how it continues to extricate itself from debt commitments with Western lenders.
The state-controlled company’s annual accounts for 2023 reveal that towards the end of the year, it fully repaid $197.5m under a secured bank loan provided by an unnamed foreign bank.
The lender had demanded early repayment, the shipowner said.
