Ukraine drone attacks put Russia’s Wildberries and banks under pressure

Investing.com -- Ukrainian drone attacks have struck almost two dozen warehouses operated by Russian online retailer Wildberries, destroying inventory and raising the possibility of a state-backed rescue that could affect the country’s banking sector, the Wall Street Journal reported.

The latest attack on Friday sparked a fire at a warehouse in Yekaterinburg, more than 1,000 miles from the Ukrainian front. Strikes have damaged over 1 million square metres of storage space since the campaign began in July.

Ukraine has described the facilities as legitimate targets, citing Wildberries’ sale of military equipment. The company previously operated an online section offering bulletproof vests, helmets and other products associated with Russia’s war effort, though the section is no longer visible.

Merchants using the platform may have lost as much as $5 billion in inventory, according to Russian online retail research group Data Insight.

Wildberries’ website remains operational, but the company owes Russian banks more than $10 billion. Kremlin officials are discussing possible state support if the attacks continue, though no decision has been made.

State-controlled Sberbank and VTB have the largest exposure to the retailer and could restructure its debt or participate in a rescue. Smaller lenders financing individual merchants may have less capacity to absorb losses.

Wildberries employed nearly 15,000 people in 2025 and serves as a major sales platform for Russian small and midsize businesses.

“Wildberries is a strategic asset as it’s a big profitable business,” said University of Chicago professor Konstantin Sonin. He added that its expansion supported Russia’s efforts to operate more independently from Western systems.

The company began as a family-run clothing retailer in 2004 before becoming Russia’s largest online marketplace. A Kremlin-backed merger later tied it more closely to the state and included plans to expand into payments.

Its growing strategic role has made the company’s warehouses part of Ukraine’s wider campaign against Russian economic and energy infrastructure.