Top Weapons Companies Boast Ukraine-Russia
Tensions Are a Boon for Business
In calls with investors, Raytheon and Lockheed Martin boasted that the worsening conflict is helping profits.
In These Times
January 27, 2022
By Sarah Lazare
As the United States weighs more involvement in the growing conflict between Ukraine and Russia, some of the largest weapons companies in the world — Raytheon and Lockheed Martin — are openly telling their investors that tensions between the countries are good for business. And General Dynamics, meanwhile, is boasting about the past returns the company has seen as a result of such disputes.
The statements come as the U.S. government escalates arms shipments to Ukraine, among them the Javelin missiles that are a joint venture between Raytheon and Lockheed Martin. House Democrats, meanwhile, are trying to quickly push through a bill that would significantly increase U.S. military assistance to Ukraine, and impose new sanctions on Russia.
Anti-war campaigners warn that U.S. escalation, amid renewed tensions between Ukraine and Russia, could bring dire consequences, and spill into a much larger and more protracted war. “As we are shipping advanced weaponry to the Ukrainian military, the Biden administration has signaled that U.S. military advisors will continue to stay in the country,” Cavan Kharrazian, progressive foreign policy campaigner for the advocacy organization Demand Progress, tells In These Times. “Who will most likely set up and teach the Ukrainian army how to use these weapons systems? The U.S. military.”
Among those openly discussing the boon to profits is Raytheon CEO Greg Hayes. During a January 25 appearance on CNBC’s “Squawk on the Street,” he was asked, “Do we have anything that would make it so if you inserted 8,000 American soldiers into Ukraine, they can stop 103,000 Russian soldiers?”