The volume of overdue accounts receivable in the Russian corporate sector has exceeded $117.5 billion. The most significant payment problems were recorded in the mining, manufacturing, and trade industries. This was reported by the Foreign Intelligence Service of Ukraine, according to UNN.
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According to intelligence information, as of the end of February 2026, the share of overdue payments in Russia's corporate sector reached 6.7%, which is equivalent to about 3.8% of Russia's GDP. These figures are cited in the "Financial Stability Review" of the Central Bank of the Russian Federation for the fourth quarter of 2025 and the first quarter of 2026.
The most difficult situation is observed in the mining industry, where the share of overdue debt has exceeded 8%. In the manufacturing industry and the trade sector, this figure is approaching 7%.
The Foreign Intelligence Service notes that these are the very industries that the Russian authorities traditionally call the foundation of their war economy.
At the same time, the Russian Central Bank claims there are no systemic risks to financial stability, although it acknowledges the deterioration of the financial condition of the corporate sector.
According to intelligence data, more and more companies in Russia are using payment deferrals as an alternative to bank lending. In this way, ordinary commercial operations are effectively turned into inter-corporate loans, allowing current activities to be maintained without involving bank loans.
The Foreign Intelligence Service emphasizes that such a practice only postpones the resolution of the problem and creates additional pressure on businesses. Due to a liquidity deficit, enterprises are forced to rely increasingly on expensive short-term financing, cutting investment programs.
Small and medium-sized businesses remain particularly vulnerable, as large companies, by delaying settlements, shift their own financial difficulties onto suppliers and contractors.
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