The Russian state corporation Rostec, led by Sergei Chemezov and considered the largest industrial company in Russia by production volume, has been allowed to no longer fully publish its financial reports.
According to a decree signed by Vladimir Putin, the holding — one of the largest arms manufacturers in Russia — can decide for itself what information from the annual report and in what volume will be published on the internet.
The changes were introduced in a presidential decree from 2024 that allows organizations considered to be of “strategic economic importance” to not disclose information about their activity due to the “unfriendly” actions of Western countries.
These entities may not publish data required by legislation on joint-stock companies, banks, limited liability companies, consolidated financial reporting, competition, and other areas.
The Rostec corporation includes over 800 scientific and industrial organizations from 60 regions of Russia, including major companies such as AvtoVAZ, KAMAZ, United Aircraft Corporation, Russian Helicopters, Uralvagonzavod and Kalashnikov Concern.
Details, HERE
