Contents tagged with Rosoboronexport
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Russia loses $13 billion on arms deals
With increasing frequency, Russia is receiving no payment for its arms exports, which are second in quantity only to the US’s, due to the practice of giving loans to buyers, and due to US sanctions blocking dollar transactions.
At the end of 2018, the accounts receivable on the balance sheet of Russia’s defense export agency, RosOboronExport, including all of the debt for arms that were delivered but not paid for, reached 812.9 billion rubles, around $13 billion at current exchange rates, RBC …
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Russia considers adopting cryptocurrency to bypass sanctions
Venezuela’s example of trying to bypass US sanctions using its own national cryptocurrency, the “petro”, has proved to be contagious.
The Russian government is now prepared to consider creating a national gold-backed cryptocurrency, said Elvira Nabiullina, head of the Central Bank of Russia, during a meeting of several parliamentary committees, reports finanz.ru.
Such a cryptocurrency is needed for BRICS countries to make payments on arms contracts, explained Vladimir Gutenyov, First Deputy …
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Russia decided to feed Maduro’s army
After supplying the Maduro regime with military equipment and a contingent of one hundred soldiers, Russia has now begun to provide food for the Venezuelan army, which remains the only thing keeping Nicolas Maduro in power.
A high-ranking source in the Russian Defense Ministry informed TASS that the Venezuelan Armed Forces would be receiving more than 16,000 field rations from Russia.
On Thursday, Rosoboronexport, the Russian state defense export agency, posted information on the procurement …
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Venezuelans transfer $300 million to Russian banks
The amount held by Venezuelan entities in Russian banks grew by 29% to $1.16 billion in the fourth quarter of 2018, according to statistics from the Bank of Russia. Venezuelan companies and individuals transferred $337 million to Russian credit organizations over the three month period.
This increase could be the result of Venezuelans transferring funds from American banks due to the risk of sanctions, observes analyst Dmitry Monastyrshin from Promsvyazbank. “It could be legal entities or …
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Russia starts supplying Saudi Arabia with Kalashnikov rifles
Aleksandr Mikheev, the Director General of Russia's state agency for exports/imports of defense-related and dual use products (Rosoboronexport), stated at the IDEX arms exhibition that Russia has begun supplying Kalashnikov automatic weapons (AK-103) to Saudi Arabia, RIA Novosti reports.
According to him, the next stage is creating a new licensed production automatic weapon for Saudi Arabia and also for other third world countries.
In the next three to four months, the two parties will …
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Russia not getting paid for arms shipments
Russia has started making arms shipments without receiving payment due to the US sanctions that prohibit dollar transactions for Russia’s defense-related export company, Rosoboronexport, finanz.ru reports.
The Russian Federal Customs Service’s (FCS) final statistics for 2018 appear to indicate that some of Russia’s weapons are being sold abroad for free, according to a review by Raiffeisen Bank analysts.
By the end of the year, Russia’s export revenue had grown by 25.8% to $443 billion, which …
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Russian military industry cut off from US dollar
US sanctions have led to the Russian military-industrial complex being cut off from dollar transactions, reports finanz.ru.
Although the portfolio of orders of the Russian state-owned arms exporter Rosoboronexport is estimated at $50 billion, the sale of weapons abroad does not bring in hard currency – the deals are made in rupees, yuans and rubles, which are harder to use to pay for imports.
Major defense contracts to supply S-400 systems have to be maintained outside the global dollar …
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Russia wants to sell Igla-S MANPADS to India
The news agencies Interfax and RIA Novosti, citing their sources, report that Russia’s tender to supply India with Igla-S MANPADS was accepted.
At the same time, a TASS military-diplomatic source said that Russia had not yet won the tender, but “there is a high degree of probability that Russia will win in the competition to supply MANPADS.”
Earlier, Reuters reported that the Russian arms exporter Rosoboronexport offered the lowest price among bidders for the supply of MANPADS for the Indian …
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American sanctions against Russian state-owned arms exporter Rosoboronexport go into effect
Washington has imposed sanctions against Rosoboronexport, accusing it of violating the U.S. nonproliferation of weapons in relation to Iran, North Korea, and Syria.
JSC Rosoboronexport is the sole state intermediary agency for Russia's exports/imports of defense-related and dual use products, technologies and services
The decision was made on April 30 and goes into effect on May 9, reported Interfax-Ukraine, citing the U.S. Federal Register.
In accordance with the decision, no departments or …