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🔍 Concealed public procurement for sanctioned state companies keeps even Russia’s own Finance Ministry in the dark

Source: Kommersant

New government regulations allowing internationally sanctioned state companies to conceal their purchases from public records has rendered even Russia’s own Finance Ministry blind to the industry’s spending. The ministry’s report on public procurement in the first half of 2022 shows that the total purchase volume of state joint-stock companies plummeted more than 53 percent compared to the same period a year earlier, though the number of contracts was roughly the same.

Bylaws adopted more recently, however, mean that the procurement data currently inaccessible will again be represented in Russia’s “Unified Information System” after April 1, 2023.