26% of Kalashnikov shares were sold to the head of the concern

The Rostec State Corporation sold the current head of the Kalashnikov concern, Alexei Krivoruchko, and his company Transkomplektholding, 26% minus 1 share of the concern for more than 1.5 billion rubles, TASS reports .

The share of private investors in Kalashnikov is now 75% minus 1 share. The blocking stake remains with Rostec.

The increase in the private stake in Kalashnikov is directly related to the sanctions, , told RBC Andrey Frolov, editor-in-chief of Arms Export magazine . “If a company from a state-owned one, which is under sanctions, becomes private, then there is a possibility that the American market, which was the main one for it before the imposition of sanctions, will open again for Kalashnikov,” the expert commented on the deal.

In July 2014, the US Treasury, and in September the European Union, put the Kalashnikov on the sanctions list. At that time, the United States accounted for up to 90% of the concern's civilian small arms exports. Until 2014, the company was 100% owned by the state corporation Rostec.