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Russia's full-scale military invasion into Ukraine had a devastating impact on the financial stability of enterprises, threatening their functioning and requiring an urgent response. The purpose of the article is to analyze the consequences of the war for the financial stability of enterprises and develop recommendations for its restoration. The research uses methods of analysis, synthesis, and comparison to study the impact of war and substantiate mechanisms to support financial stability. The multichannel impact of hostilities on the financial performance of enterprises has been analyzed. Specific instruments of state support have been proposed to restore business financial sustainability. It was concluded that the war had a devastating impact on financial stability and the need for comprehensive state support measures for its restoration. The results obtained in the study on the analysis of the impact of war on the financial stability of enterprises can be used by public authorities to develop an integrated program of measures to restore the solvency and liquidity of domestic companies. The proposed mechanisms for debt restructuring, preferential loans, tax benefits, direct budget subsidies and public procurement can serve as tools for such a business support program. In addition, individual enterprises will be able to use the developed recommendations to restore their own financial stability, taking into account industry specifics. Further research may focus on a more detailed development of industry-specific mechanisms for restoring the financial stability of enterprises, taking into account the specifics of their activities and asset structure. The study of the peculiarities of functioning of export-oriented and import-dependent industries in the context of supply chain disruptions due to war requires special attention. It is promising to study the long-term impact of war on the ability to attract investment and lending to domestic businesses in the post-war period.
Panchenko et al. (Mon,) studied this question.