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- Between 2016 and 2017, the Russian government already had to repay the military industry’s loan obligations to Russian banks, and those debts were not small — they amounted to a trillion rubles (over $15 billion).
- In 2019, the total debt of Russia’s military industrial complex came to two billion rubles (about $31 billion).
- The current level of state expenditure on the purchase of weapons and military equipment — about 1.5 trillion rubles a year — is simply not sufficient to keep defence companies afloat on its own.
- It seems as though the Kremlin has learnt to balance this system by using periodic injections of large amounts of cash at the expense of Russian citizens.
- Not only do Russia’s defence companies exist outside conventional market rules, but since 2014 they have actually been severed from opportunities for international cooperation.
- the government has now decreed a minimum amount of defence contracts which companies are obliged to conduct via Promsvyazbank, and can also contractually oblige military companies to use only this bank. A likely consequence of this move is that these enterprises will receive more favourable access to credit at special prices,
- Essentially, the new Promsvyazbank will be a non-market bank for what is a non-market sector. This might also allow the state to compensate the military industrial complex for its losses through other budgetary streams — without publicly inflating its defence and security expenses.
- The primary motive is to loosen the working conditions of defence companies and individual factories, particularly when it comes to cash transactions at various stages along the manufacturing chain. At the same time, it aims to improve these enterprises’ control over their own livelihoods.
Eli Venäjän sotateollinen kompleksi oli kokonaisuudessaan 2016-17 velkaa $15 mrd, 2019 jo $31 mrd.
Nykyinen Venäjän ostotahti 1,5 biljoonaa rub eli päivän kurssilla $26 miljardia /vuosi (vrt. Venäjän puolustusbudjetti 2021 $65.9 mrd / 4.1% bkt:sta] ei riitä pitämään sotateollisen kompleksin firmoja pystyssä. Eli valtio joutuu pääomittamaan laajamittaisesti ja säännällisesti.
2014 ovat olleet kokonaan tavanomaisen rahoitusmarkkinan ulkopuolella.
Rahoitus keskitetty Promsvyazbankiin, jota voidaan pääomittaa ilman sen näkymättä suorina puolustuslisämenoina.