“Despite the sanctions, the revenues of the two largest Russian arms manufacturers in 2024 increased by 23% and reached 31.2 billion dollars”, — write: www.radiosvoboda.org
According to researchers, Russia’s Rostec and the United Shipbuilding Corporation increased their combined revenues from arms sales by 23% to $31.2 billion, despite international sanctions that led to shortages of components.
SIPRI notes that domestic demand was sufficient to more than compensate for revenue losses from the drop in arms exports.
The previous year, as analyzed by the Stockholm International Peace Research Institute, the combined income of two Russian companies, including Rostec, increased by 40 percent and reached approximately 25.5 billion US dollars.
Since launching a full-scale invasion of Ukraine in February 2022, Russia has dramatically increased its production of weapons, ammunition and other military goods. The United States and other Western countries have imposed a series of sanctions against the Russian Federation aimed at reducing Moscow’s ability to wage war by cutting off access to Western technologies.
Despite the sanctions, Moscow continues to manufacture weapons using foreign components.