- Category
- War in Ukraine
Russia’s State Postal Service Puts Historic Moscow Buildings Up for Sale After $1 Billion in Losses
Prefer U24 Media on Google
- Authors
![Photo of Ivan Khomenko]( "Photo of Ivan Khomenko")
Russia’s state-owned postal operator, Russian Post, has put a historic property complex in central Moscow up for auction as the company struggles with mounting debt and nearly 80 billion rubles ($1 billion) in accumulated losses over four years.
We bring you stories from the ground. Your support keeps our team in the field.
According to The Moscow Times on November 2, the company is seeking at least 7.7 billion rubles ($96 million) for the former Moscow Imperial Post Office complex on Myasnitskaya Street. The auction is scheduled for December 9.
The property includes 19 buildings and 46 nonresidential units covering approximately 21,400 square meters (230,000 square feet). Two buildings are designated cultural heritage sites.
Real estate experts offered mixed assessments of the asking price, with some warning that restoration costs could make the property less attractive to investors.
The sale follows other property disposals. Earlier in 2026, Russian Post sold the historic Main Post Office in St. Petersburg for more than 1.2 billion rubles ($15 million). Developer Level Group also acquired a former postal vehicle facility in Moscow.
According to The Moscow Times, Russian Post accumulated losses of 79.3 billion rubles ($991 million) between 2022 and 2025, including 30.4 billion rubles in 2022 and 23.7 billion rubles in 2025.
The company reported another 10.1 billion rubles ($126 million) in losses during the first half of 2026. By the end of 2025, its total debt had reached 126.5 billion rubles ($1.58 billion), with approximately 20 billion rubles ($250 million) spent annually on debt servicing.
In August 2026, Russian credit rating agency ACRA downgraded the company’s rating, citing its heavy debt burden and insufficient revenue. Russian Post also reduced its workforce by 13% in 2025, leaving approximately 211,600 employees.
Russian authorities are seeking additional revenue sources for the company. Measures include paid electronic services, eliminating banking commissions on utility payments, and proposals to grant Russian Post exclusive delivery rights for certain age-restricted products. Lawmakers are also considering legislation allowing wine sales through the company’s website.
The financial difficulties at Russian Post come amid broader cost-cutting measures across Russia’s state-linked companies. In June 2026, state development bank VEB.RF announced plans to reduce its workforce by 15%, while major companies in the banking, automotive, and steel industries also reported layoffs amid growing economic pressure.
Discuss this article:
