russianindustry
A Russian Su-30 fighter jet producer bought back its own military equipment previously sold to foreign partners worth over $400 million in 2022 and 2023, the Russian independent outlet Moscow Times reported on May 7, citing customs data. Such imports would signal a growing shift in Russia's defense industry from exports to domestic needs as the ongoing full-scale invasion of Ukraine puts pressure on its capacities. Irkut, renamed Yakovlev Corporation in 2023, also produces Yak-130 trainer aircraft and civilian airliners. Its main military product, the Su-30 fighter, is actively used by Russian...
Kyiv Independent
The state-owned Russian energy giant Gazprom reported a net loss of 629 billion rubles (nearly $6.9 billion) in 2023, the company's largest profit downturn in decades amidst falling gas prices and a limited European market. Gazprom published its international earnings report on May 2, revealing $6.84 billion in net losses in 2023, compared to a net income of 1.23 trillion rubles (about $13 billion) in 2022. Revenue from gas sales fell by 40% in one year, the report shows. Gazprom's 2023 losses represent the company's first report of annual net loss since 1999, according to Bloomberg. Since the...
Kyiv Independent
Russia is already producing more arms and military equipment than it needs for its war against Ukraine, and is filling its weapons warehouses, German Defense Minister Boris Pistorius said, as reported by the German television channel n-tv on April 25. Despite Western efforts to undermine Russia's industrial and military output, the country is only increasing its investment into arms production, allocating a record portion of its 2024 federal budget for military needs. As Russia switches into a war economy mode, "a large part or part of what is newly produced no longer goes to the front, but en...
Kyiv Independent
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