Putin Authorized To Classify Financial Indicators Of Russia's Largest Industrial State-owned Company

It is headed by Sergey Chemezov.

Sergey Chemezov's Rostec State Corporation Sergey Chemezov, the largest company in Russia in terms of production scale, has been allowed not to publish financial statements. According to a decree signed by dictator Vladimir Putin, the holding, which is the country's largest arms manufacturer, can now independently decide what information from the annual report and to what extent it will post on the Internet, reports The Moscow Times.

The amendments were made to the presidential decree of 2024, which allows economically important organizations (EEOs) not to disclose information about their activities due to "unfriendly" d Such entities may not publish data stipulated by laws on joint stock companies, banks, LLCs, consolidated financial statements, protection of competition and others. Rostec includes over 800 scientific and production organizations in 60 regions of the Russian Federation, including the largest such giants as Avtovaz, KAMAZ, United Aircraft Corporation (UAC), Russian Helicopters, Uralvagonzavod, Concern Kalashnikov, and others.

At the end of 2024 (data for 2025 are not yet available), Rostec has increased revenue by 27% in annual terms to 3.61 trillion rubles, Chemezov reported. According to him, net profit for the year increased by 119% to 131.5 billion rubles, and the volume of investments increased 1.3 times to 676 billion rubles "primarily due to the growth of the defense order and the task of increasing the capacity of our enterprises and their modernization for the reliable performance of the state defense order."

At the same time, some companies included in the Rostec circuit are suffering losses. For example, KAMAZ, Russia's largest truck manufacturer, recorded a net loss of 37 billion rubles under Russian Accounting Standards (11 times higher than in 2024) for 2025. The net loss of JSC Russian Helicopters under RAS for the first half of 2025 amounted to 2.5 billion rubles (against 5.5 billion rubles of profit a year earlier).

Slump in financial indicators is also recorded in some regional divisions of the corporation. For example, the United Engine Corporation's member company "ODK-Ufa Engine Building Production Association" showed a loss of more than 14.3 billion rubles at the end of last year (in 2024 there was 8.4 billion profit).

The decree also gave the right to "natural monopolies" (Gazprom, Transneft, Russian Railways, etc.) not to disclose regulatory information, which they were previously required to disclose as monopolies. This includes, among other things, information on investment programs and tariffs, which were previously prohibited to be classified as commercial secrets.

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