Reuters investigates five companies behind Russia's explosives production
Chemical industry companies founded or owned by some of Russia’s wealthiest individuals have been supplying ingredients to factories producing explosives used by Moscow’s military in its war on Ukraine.
Source: Reuters
Details: Reuters identified five chemical companies where five billionaires under Western sanctions hold stakes. These companies have supplied over 75% of key chemicals transported by rail to some of Russia’s largest explosive production plants from the start of the war until September this year.
The companies include EuroChem, UralChem, UGMK, Lukoil and Evraz, linked to prominent Russian billionaires such as Roman Abramovich, Vagit Alekperov and Dmitry Mazepin.
The analysis provides new evidence that the West’s sanction strategy aimed at punishing Russia for its invasion of Ukraine has failed to curb its military production.
Although the billionaires themselves are under Western sanctions, their chemical companies have largely avoided major financial restrictions or bans on importing critical goods from the US or the European Union.
Moscow is heavily investing in military production to replenish its ammunition stocks. In 2024, Russia produced approximately 2.4 million artillery shells and imported 3 million from North Korea, a source from the Security Service of Ukraine said.
Most products from these chemical plants are intended for civilian use, such as fertilisers critical for agriculture. Western policy has long exempted food products from sanctions to prevent famine and avoid diplomatic backlash from developing countries.
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