Main points
- JSC “Monokristal”, part of the “Energomera” concern and a world leader in the production of synthetic sapphires, has declared bankruptcy due to financial difficulties.
- The crisis is associated with damage to production facilities, disruptions in the supply of raw materials, the closure of the European market, and a drop in demand in Asia.
Russian company declares bankruptcy / Photo screenshot on the website of JSC “Monokristal”
JSC “Monokristal” is part of the “Energomera” concern and is one of the world leaders in the production of synthetic sapphires. They are used, in particular, in the production of missiles and drones.
Which Russian company declared bankruptcy?
The company has notified creditors of its intention to apply to the Arbitration Court of the Stavropol Territory with a statement of its own bankruptcy, as reported by The Moscow Times.
JSC “Monokristal” indicates signs of insolvency and “insufficiency of assets”.
- According to the audit report, Monocrystal's short-term liabilities at the end of 2025 exceeded current assets by 3.7 billion rubles, and over the year, assets decreased from 15.7 billion to 13.3 billion rubles.
- The volume of short-term borrowed funds increased to 5.15 billion rubles, accounts payable amounted to 639.4 million rubles, and long-term liabilities amounted to over 9.4 billion rubles.
Note! At the same time, the company's staff decreased from 1,087 people in 2022 to 524 in 2025.
The leadership links the crisis to:
- with damage to production facilities in the Belgorod region during shelling;
- disruptions in the supply of raw materials;
- the closure of the European market;
- falling demand for electronics in Asia.
Managing partner of Vita Liberta, Serhiy Konon, believes that there is a chance for salvation – thanks to the uniqueness of production.
The production of artificial sapphires of this level in the country is essentially one, and the competencies have been accumulated for decades. It is easy to lose them, almost impossible to restore them,
– says Conon.
According to him, the most likely scenario is a deep restructuring, change of ownership, or sale of the sapphire business to a new investor. Otherwise, the market risks losing one of the few world-class high-tech industries.
At the same time, Russian media outlet CNews reported that in 2022, Monocrystal accounted for a third of the global market for artificial sapphires. In addition to the military industry, they are used to produce protective glass for smartphones and smart watches.
Let us remind you that bankruptcy of companies in Russia is now a common occurrence. For example, the company “Russian Cold” is on the verge of bankruptcy due to debts. They have already exceeded 12.5 billion rubles.
Bankruptcies are required for four key structures:
- JSC “Russian Cold”;
- JSC “TD “Russian Cold””;
- LLC “Altaiholod”;
- “Laguna Coil”.
Last year, the production of Russian Cold ice cream decreased by 25% to 15 thousand tons. Dairy News writes about this.
What else is worth knowing about the business situation in Russia?
The United Confectioners Holding has already reduced its staff by 24%. The reason was the drop in demand for chocolate in Russia. The company produces popular and well-known products under the brands “Alenka”, “Korivka” and “Babaevsky”
Russians are also starting to save money. This is also affecting Russian business. For example, large chains are switching to compact store formats.
Economist Oleg Getman told Channel 24 that the Russian authorities are most concerned about budget problems. He also added that indexation problems, additional ruble printing, and rampant lending in Russia's domestic market are all things that are happening in the country right now.