MOSCOW, September 12 (RIA Novosti) – The latest round of European Union sanctions imposed against Russia won’t be crucial for Russia’s Almaz-Antey defense contractor, specializing on anti-aircraft defense, an unnamed source in the holding told RIA Novosti on Friday.
The source from Almaz-Antey underlined, that in any case, the sanctions are not cause for the concern.
Earlier on Friday, the EU barred three major defense companies (Oboronprom, United Aircraft Corporation and Uralvagonzavod) from seeking finance on European Union capital markets and banned the sale of dual-technology equipment to nine Russian defense companies, including the Kalashnikov Concern and Almaz-Antey.
The contracts, signed before September 12, will be carried out, the source said. "Previously signed contracts will be executed, otherwise the foreign companies will be subject to sanctions," - the interlocutor told RIA Novosti.
According to data from US-based weekly Defense news, Almaz-Antey, founded by a Presidential decree in 2002, is the world's 12th-largest defence contractor measured by defense revenues in 2013.
