ΔE 12.1, fair: the same colour family, but not a straight swap. Hardened Leather is a little darker, more muted than Matt Light Rust. They are different kinds of paint: AMMO by Mig Matt Light Rust is an ink, glaze or transparent paint and Army Painter Hardened Leather is a one-coat contrast-style paint, so they won’t behave the same on the model even where the colour is close.
Only where an exact match doesn’t matter, such as a new unit or a highlight. Fair match (ΔE 12). Hardened Leather is a little darker, more muted than Matt Light Rust. They are different kinds of paint.
The same difference applies the other way round: Matt Light Rust is a little lighter, more saturated.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Matt Light Rust on the colour wheel See Hardened Leather on the colour wheel
All matches: Matt Light Rust equivalents · Hardened Leather equivalents