The Slovak company Kinex Bearings from the city of Bytča has been accused of supplying bearings to Russia that are used in the production of drones and heavy military equipment, according to customs documents, reports Domov.
It is noted that in 2023, products worth over $1.1 million were shipped to the Russian subsidiary Kinex Rus through Turkish intermediaries, despite existing European sanctions.
Journalists claim that shipments took place at least four times — in January, February, and twice in June 2024. Additionally, some products allegedly returned back to Slovakia, which may indicate ongoing two-way trade.
Kinex Bearings denied the accusations, stating that it was not given the opportunity to comment before the publication of the material. In an official response, the company said it had taken measures to stop the spread of this information. According to Kinex, business relations with the Russian subsidiary were terminated back in January 2023, as the products allegedly were not sold to Russian buyers. The company also stated that by ceasing activity in the Russian market, it suffered significant losses and faced risks to jobs.
Nevertheless, according to the portal Finstat.sk, Kinex reached a record sales level of €73 million in 2023, with a profit of €1.48 million. Management explains this by the expansion of production capacity and growth of business in other countries. Since 2020, the company has been owned by the Indian conglomerate CKA Birla Group and has offices in India and China.
Kinex also claims that it does not exclude the possibility of counterfeit products appearing on the market under its brand. According to them, cases of counterfeiting have recently increased, especially in Asian markets, causing serious damage to the company’s reputation.
In addition, Kinex insists that it concludes export agreements with clients that prohibit direct or indirect supply of bearings to Russia and tries to monitor their compliance. However, as the company states, it is impossible to completely exclude the risk of re-export through third countries, especially given the wide range of products, which includes thousands of different models.
