Western sanctions against Russia drove the profits of one of its largest technology and defense industry conglomerates, Rostec, down 15 percent in 2014, the company said in its annual consolidated financial report released on July 22.
Russia's War Against Ukraine
The Moscow Times: Sanctions hit profits at Russian defense and technology giant Rostec
Visitors watch a demonstration of a shoulder-launched SA-18 surface-to-air (SAM) missile at the Russian Rostec stand during the first day of the LADD defence and security fair, the biggest in Latin America, with the participation of exhibitors from around the world, in Rio de Janeiro, Brazil, on April 9, 2013.
