EU and US sanctions hit Russian arms industry hard

Russia has lost an estimated 50 billion rubles ($760 million) in potential gun and ammo sales since international sanctions sealed off the U.S. market in 2014, the state-owned Rostec corporation the Moscow Times has reported.

Russia’s estimated 4.5 million gun owners with 7.3 million registered small arms pale in comparison with the nearly 400 million civilian-owned firearms in the U.S.

“Domestic producers lose about 10 billion rubles of revenue a year because of sanctions,” Sergei Abramov, who heads Rostec’s conventional arms and ammunition branch, told the RBC news website Friday. 

“It’s not difficult to calculate the amount over all five years of sanctions,” he added.

Around 80% of Russian-made small arms and ammunition were exported to the U.S. and Europe before the sanctions were imposed, the outlet estimated, citing an unnamed arms manufacturer.

Since then, the U.S. has begun buying ammunition for Russian- and Soviet-made weapons from China and Bulgaria, Abramov is reported as saying.

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Gary Cartwright

Gary Cartwright

Gary Cartwright is publishing editor of EU Today. 

An experienced journalist and published author, he specialises in environment, energy, and defence.

He also has more than 10 years experience of working as a staff member in the EU institutions, working with political groups and MEPs in various policy areas.

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