Rockwool’s Russian Subsidiary Reportedly Transfers $7.7 Million to Fund Russian Invasion

Danish insulation maker Rockwool’s Russian subsidiary has reportedly transferred $7.7 million to the All-Russia People’s Front , with the funds set to be used for equipment supporting Russia’s war effort, The Bell reported on February 12, citing Russian media.

According to Russian media, the payment was confirmed by the company’s temporary administrator, Timur Amirov, who said the money would go toward quad bikes, communications systems, electronic warfare tools, and drones for the front. Amirov argued that this military equipment will “raise the level of protection and help save lives” of Russian soldiers on the frontlines of Ukraine.

The donation comes as Rockwool’s operations in Russia have been placed under temporary state management. In a recent interview with Russian state media outlet, Amirov said the enterprise is now expected to rebuild cooperation with Russia’s military-industrial sector, including producing insulation materials for submarines—work that had reportedly been halted by the original Danish owners after 2022.

The Bell noted that it has identified Amirov’s management structure as linked to Rostec, Russia’s state defense conglomerate. Amirov has also spoken of plans to invest $128 million into the business, making the $7.7 million transfer a significant early step.

The development highlights the pressure facing foreign-linked companies still operating in Russia. Rockwool’s international leadership previously argued that maintaining control of its Russian business, while limiting investment and avoiding military contracts, was the “least beneficial” option for the Kremlin, according to The Bell.

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The Bell previously reported that in Europe, Rockwool has previously faced accusations of supplying materials used by Russia’s navy.

In 2023, Danish outlets Danwatch and Ekstra Bladet reported that Rockwool’s ship insulation was installed on some of Russia’s most advanced submarines, including the nuclear-powered Belgorod and Knyaz Vladimir, both capable of carrying modern nuclear weapons.

The journalists based their findings on Russian state tender documents, which showed that after the 2014 annexation of Crimea, a Russian distributor signed contracts to supply more than 15,000 square meters of SeaRox insulation for the Sevmash shipyard.

Rockwool has said it complies with sanctions, has no direct contracts with Russian state or military bodies, and halted deliveries of restricted goods after 2022, while acknowledging that its products may still be sold through a wide distributor network beyond its control.

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In recent years, Rockwool’s parent company has preferred to call itself a “passive owner” of Russian assets, but its business in the country has reportedly been growing. The company did not disclose its exact financial results in the country, but in its 2024 report, it indicated that its total revenue in Eastern Europe exceeded $890 million, partly due to the fact that its Russian business demonstrated “unexpected double-digit growth,” The Bell wrote.

At the same time, the global Rockwool group has reportedly established a fund for Ukraine’s reconstruction, transferring 500 million Danish kroner (about $80 million) over four years—more than the profits it managed to repatriate from Russia during that period.

Previously, it was reported that Russian leader Vladimir Putin had seized the Russian assets of the Rockwool and Polish-American packaging producer CanPack and transferred them into the management of newly registered Russian companies.

Under the decrees, 100% of shares in LLC Rockwool and 68% in LLC Rockwool-Volga—both subsidiaries of Rockwool—were handed over to JSC Development of Construction Assets, a company registered in Moscow in autumn 2025 with undisclosed ownership.

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