1 Jul 2022 11:07

Almaz-Antey withdraws from int'l defense company ratings

MOSCOW. July 1 (Interfax) - Russia's Almaz-Antey company is withdrawing from international ratings of defense product manufacturers, the company's press service said on Friday.

"JSC Almaz-Antey ceases to participate in international ratings of the world's biggest manufacturers of defense products despite a revenue growth posted last fiscal year," the company said.

"Although the company's revenue grew in 2021, compared to 2020, we deem the disclosure of these values to be sensitive information, which could be used to tighten the pressure of sanctions on the company and its Russian and foreign partners," it said.

This refers to arms manufacturer lists annually published by the Stockholm International Peace Research Institute (SIPRI) and the U.S. specialized weekly Defense News, the company said, adding that the rating organizers rely on information about the amount and structure of consolidated revenue.

"Over the past decade, the company has been an invariable leader among Russian enterprises in terms of the volume of military supplies, and has traditionally been a top 20 member in the ratings of global arms manufacturers. However, a substantial part of information about the defense sector has become classified amid the growing pressure of sanctions on Russia," the company said.

In addition, the company does not consider the credibility of such foreign ratings to be indisputable.

"Their organizers are unable to verify the volume of sales reported by participants, which has led to the emergence of new companies on the lists in recent years - they have no transparent history or reputation on the global arms market," the company said.