Contents tagged with Rostec

  • Top manager of Russian defense conglomerate Rostec arrested in Italy at US’s request

    Alexander Korshunov, an executive at the United Engine Corporation (UEC), a subsidiary of the Russian state-owned conglomerate Rostec, has been arrested in Naples at the US’s request.

    “We confirm the fact that one of our employees has been detained abroad. We are confident that he was not involved in any illicit activity. The corporation will do everything it can to protect his interests,” the UEC said in a statement as quoted by Interfax news agency.

    Rostec said that Korshunov was being …

  • Huawei to develop a 5G network in Russia

    The Chinese company Huawei and Russian largest mobile operator MTS signed an agreement on the development of 5G technologies and pilot launches of fifth-generation communication networks in Russia in 2019-2020, reports RBC news agency with a reference to a press-service of MTS.

    The agreement was concluded in the Kremlin in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping.

    Two companies plan to introduce 5G and IoT (Internet of Things) technologies and …

  • Russia has no plans to withdraw its military experts from Venezuela

    The Wall Street Journal greatly exaggerated the number of Rostec staff present in Venezuela, reported RBC news agency with reference to the press service of the Russian defense conglomarte.

    “The make-up of the representative office has not changed in years,” the press service emphasized.

    The Rostec representative added that some technical experts periodically arrive in the country to repair and maintain equipment. A few days ago, maintenance work was carried out on several aircraft, according …

  • Russia denies possibility of supplying ammunition to the US

    Russian defense concern Corporation Rostec, commenting on the reports about the Pentagon's intention to buy ammunition for Russian weapons, said that the supply of Russian ammunition for the needs of the United States is currently impossible. The ammunition of the Russian production can be delivered to the United States only in the case of lifting the sanctions, reports Interfax with reference to Rostec.

    Earlier, the publication Defence Blog reported that the Pentagon unit plans to purchase …

  • Russia delays production of 'Boeing competitor' due to US sanctions

    Russia has been forced to postpone the serial production of the passenger plane MS-21 due to US sanctions, TASS reports, citing Rostec director Sergey Chemezov. 

    “In connection with the fact that the Americans have stopped the supply of composite materials, we are transitioning to our own composite materials,” he said. As a result, the deadline for launching serial production of the MS-21 has been “shifted slightly” to the end of 2020. Earlier it was expected that the first planes would be …

  • Russia's Rostec reduces its claim against Siemens in Crimean turbines case

    A representative of Russian engineering company Technopromexport, a subsidiary of Rostec filed an application at the arbitration court of Moscow against German conglomerate AG and its two Russian subsidiaries for a fourfold reduction of the amount of claim, reported RIA Novosti.

    “Now, Technopromexport, a minority shareholder of the company Interautomatika demands the recovery of about 46.8 million rubles [or 742 thousand dollars] and 1.4 million for Interautomatika. Initially, a suit was …

  • First Russian-made high-power turbine fell apart during tests

    The Russian gas turbine created by the Rostec Corporation as part of import phase-out program fell apart during tests, Reuters reports.

    The prototype, a modernized version of 110М gas turbine unit fell apart during tests and cannot be restored, Reuters reports citing its sources. The tests were performed at the Saturn factory in Rybinsk which is a part of the Rostec state corporation. According to one of the sources, the tests were conducted in December. There were efforts to restore the …

  • Russia's industrial conglomerate Rostec plans to switch to the Russian equivalent of SWIFT system

    Russia's Rostec State corporation and the Bank of Russia will switch over to a national system for the transfer of financial messages of the Bank of Russia (SPFS), an equivalent of the SWIFT (Society for Wordwide Interbank Financial Telecommunications) service. The press service of Rostec reported that the system will be used as a channel for the exchange of financial information between all participants of the SPFS. “The digital infrastructure will exchange data in an encrypted mode, which …

  • Siemens signs new contract with Russian company that previously delivered its turbines to Crimea

    A subsidiary of the German company Siemens confirmed a new joint venture with the Russian state corporation Rostec, who had previously deceived Siemens with the illegal supply of its gas turbines to the Crimea in violation of contract. This was reported on January 11 by the Russian state news agency TASS.

    Inna Domoratskaya, the Press Secretary of the Russian company Siemens Healthcare, a division of Siemens Healthcare GmbH, told the agency that this subsidiary of Siemens is ready to provide …

  • Putin warns Rostec state-owned conglomerate against uncontrolled extension

    Russian President Vladimir Putin warned the state corporation Rostec from endless and uncontrolled growth, Interfax reports.

    "You cannot expand endlessly, without any control, and you need to understand exactly what the corporation is created for, where it should move, and in what parameters it should function, so that its work is optimal, effective, and competitive," Putin said, speaking at Rostec’s 10 year anniversary celebration.

    The state corporation includes more than 700 enterprises, …