CCD: One of Russia's largest rocket and space corporations is on the verge of collapse

The Russian space industry is experiencing a serious crisis, which refutes the Kremlin's propaganda claims about its power. About reported Center for Countering Disinformation.

Rocket and Space Corporation Energia, one of the largest and oldest companies in the industry in Russia, has admitted that it is on the verge of collapse.

CEO Igor Maltsev said the situation was "critical." According to him, the company has millions of dollars in debt, staff motivation has been lost, and the company itself is under threat of closure.

Also, the private Russian holding SR Space, which had previously promised a breakthrough in the field of light launch vehicles and satellite constellations, was officially declared bankrupt.

Due to sanctions, Russia has virtually lost access to critical Western technologies. Space launches for foreign customers have all but stopped, and the country can no longer compete with giants like the United States and China.

In the context of the war, space has become a secondary area for the Kremlin: the main resources are spent on the army and weapons.

"The myth of Russia as a 'great space power' is gradually collapsing: the industry is degrading, losing personnel, technology, and prospects," the CDC emphasized.

• On January 21, it was reported that amid the cost of the war, Russians are resorting to savings in the space industry which is their "sacred cow".