Friday, August 14, 2026

Low Oil Prices Force Russian Defense Cuts, Top Military Business Boss Says

From The Wall Street Journal: Russian defense procurement will drop by about 10% this year as low oil and gas prices drain income from the state budget, according to the powerful head of the conglomerate that controls the key pieces of Russia’s military-industrial complex. Sergei Chemezov, chief executive of the Russian state industrial holding Rostec—the maker of weapons including Kalashnikov