United Rocket and Space Corporation

The United Rocket and Space Corporation () or URSC is a Russian joint-stock corporation formed by the Russian government in 2013 to renationalize the Russian space sector. The government intended to do so in such a way as to "preserve and enhance the Roscosmos space agency". The reorganization continued into 2014 with a Sberbank cooperation agreement, and 2015 with a process to merge with the Russian Federal Space Agency to create the Roscosmos State Corporation. ''Roscosmos Space Agency'', as a state agency, was abolished in December 2015 and the Roscosmos state-run corporation took over 1 January 2016 and the United Rocket and Space Corporation became part of the newly formed Roscosmos State Corporation in accordance with presidential decree No. 221. Provided by Wikipedia