Profits For Russia’s Rostec Arms Export Conglomerate Fall 42 Per Cent: One of Russian President Vladimir Putin’s oldest and closest confidants is seeing his industrial empire crumble. That empire is the Russian state defense-industrial behemoth Rostec, which has a near-monopoly on the production of major weapon systems.
The massive entity has controlling interests in almost all Russian defense enterprises, which combined manufacture 80 percent or more of the military hardware needed for Russian President Vladimir Putin to sustain his war in Ukraine.