Special Report: Dozens of Russian weapons tycoons have faced no Western sanctions
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Loading... - Daniel Moser
- 01 Jul 2022
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As Russia's military continues to pound Ukraine with missiles and other lethal weapons, Western nations have responded in part by targeting Russia's defense industry with sanctions. The latest round came on Tuesday, when the United States issued new sanctions on some arms makers and executives at the heart of what it dubbed Russian President Vladimir Putin's "war machine."
But a Reuters examination of companies, executives and investors underpinning Russia's defense sector shows a sizable number of players have yet to pay a price: Nearly three dozen leaders of Russian weapons firms and at least 14 defense companies have not been sanctioned by the United States, the European Union or the United Kingdom. In addition, sanctions on Russia's arms makers and tycoons have been applied inconsistently by these NATO allies, with some governments levying penalties and others not, the Reuters review showed.
Among the weapons moguls who have not been sanctioned by any of those three authorities is Alan Lushnikov, the largest shareholder of Kalashnikov Concern JSC, the original manufacturer of the well-known AK-47 assault rifle. Lushnikov owns a 75% stake in the firm, according to the most recent business records reviewed by Reuters.
The company itself was sanctioned by the United States in 2014, the year Russia invaded and annexed the Ukrainian peninsula of Crimea. The EU and UK leveled their own sanctions against Kalashnikov Concern this year.
The company accounts for 95% of Russia's production of machine guns, sniper rifles, pistols and other handheld firearms, and 98% of its handheld military machine guns, according to its website and most recent annual report. Its weapons include the AK-12 assault rifle, an updated version of the AK-47, some of which have been captured from Russian forces by Ukrainian soldiers. The Kalashnikov Concern also produces missiles that can be fired from aircraft or on land. Read More...
