According to the latest report of Stockholm International Peace Research Institute (SIPRI), Russian defence companies are being impacted as well as their access to semiconductors are being reduced by the Western sanctions on Moscow.
In 2021, arm sales of the top 100 arms producing and military services companies around the world grew by 1.9% and reached $592 billion.
In October 2018, India had signed a deal worth $5 billion to buy five units of S-400 systems with Russia despite of a warning from the then President of America, Donald Trump.
S-400 is Russia’s most advanced long range missile defence system, and India is hugely dependent on Moscow for the delivery of this Russian developed air missile defence system.
According to Brigadier Rahul Bhonsle (retired), Director of New Delhi based Security Risks consultancy group, the West sanctions would affect Russia’s domestic defence industry due to restrictions on import of technologies as well as critical components. He also opined that India will be impacted in two ways by the sanctions.