Russian Post is selling the Moscow Imperial Post Office amid multibillion-ruble losses
The Russian state-owned company “Russian Post” has begun selling off real estate due to the financial crisis and a growing debt burden. The complex of buildings comprising the Moscow Imperial Post Office on Myasnitskaya Street in central Moscow has been put up for auction with a starting price of 7.7 billion rubles (approximately $94.9 million). The auction is scheduled for December 9.
According to the Russian Auction House, the lot includes 19 buildings and 46 non-residential premises with a total area of 21,400 square meters, located on a 2.2-hectare plot. Two structures in the complex have been designated as cultural heritage sites. Real estate market experts have offered conflicting assessments of the starting price: some experts consider it inflated given the necessary renovation costs, while others describe the price of 360,000 rubles (about 4,440 U.S. dollars) per square meter as reasonable for the historic center of Russia’s capital.
The mass sale of assets is driven by a significant deterioration in the state-owned operator’s financial performance. The company’s cumulative losses over the past four years have reached 79.3 billion rubles (about $977.5 million), and in the first half of 2026, losses increased by another 10.1 billion rubles (about 124.5 million U.S. dollars). The company’s total debt stands at 126.5 billion rubles (about 1.56 billion U.S. dollars), with annual expenses for servicing that debt alone reaching about 20 billion rubles (about $246.5 million), which previously led to a downgrade of its credit rating and a 13% reduction in its workforce.
Source: The Moscow Times.
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