Largest Russian Manufacturer of Optoelectronics Crystals Files for Bankruptcy Amid Ukrainian Strikes and Market Losses

One of the world’s largest manufacturers of synthetic sapphires—Russia’s Monocrystal, whose products are used in optoelectronics for equipping missiles and drones—has declared bankruptcy amid Ukrainian strikes and the loss of markets.

This was reported by The Moscow Times.

The company, which is part of the Energomera Group, has informed its creditors of its intention to file for bankruptcy with the Stavropol Krai Arbitration Court.

As of the end of 2022, Monocrystal held a third of the global market for synthetic sapphires. Synthetic sapphire is used in optical systems, protective elements for sensors and lasers, missile electronics, satellites, and high-precision guidance systems. It is also used in components for the aerospace, instrument-making, and other high-tech industries.

The company cites signs of insolvency and ‘insufficient assets.’ According to the audit report, Monocrystal’s short-term liabilities as of the end of 2025 exceeded current assets by 3.7 billion rubles, and over the year, assets decreased from 15.7 billion to 13.3 billion rubles.

The volume of short-term borrowings rose to 5.15 billion rubles, while long-term liabilities exceeded 9.4 billion rubles. At the same time, the company’s workforce shrank from 1,087 people in 2022 to 524 in 2025.

Company management attributes the collapse to damage to production facilities in the Belgorod region during shelling, disruptions in raw material supplies, the closure of the European market, and a drop in demand for electronics in Asia.

At the same time, the company’s managing partner, Sergey Konon, believes there is a chance for survival due to the uniqueness of the production. According to him, the most likely scenario is deep restructuring, a change of ownership, or the sale of the sapphire division to a new investor. Otherwise, the Russian market risks losing one of its few world-class high-tech manufacturing facilities.

As a reminder, in August 2025, Ukrainian drones attacked the Monocrystal plant in Stavropol, Russia. A fire broke out there.