Russian rifle maker Kalashnikov is growing despite US sanctions
123%
The revenue of Russian weapons manufacturer Kalashnikov Concern increased 123% in 2016, reaching $320 million.
Published | Photo by Reuters/Staff
Kalashnikov is making money despite US sanctions started in 2014, in response to Russia’s annexation of Crimea and military activity in Ukraine.
The company was planning to expand its presence in the US when the sanctions were announced.
Instead, Kalashnikov changed focus to other markets, including Asia and Africa, and from civilian to military customers.
Reuters/David Mdzinarishvili
The change of focus happened just as countries in Asia started strengthening their militaries, in part in response to China.
