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Thursday, June 04, 2009

Over 40% of Defense Ministry funds go to Navy - Russia's Ivanov

RFS Yuri DolgorukiMore than 40% of the Russian Defense Ministry budget is spent on the Navy, particularly on the development of strategic nuclear forces, a deputy prime minister said on Wednesday.

"This money is mainly directed to strategic submarines. This is hundreds of billions of rubles," Sergei Ivanov said in an interview with RIA Novosti.

Russia is currently building several Borey class strategic nuclear submarines and a fourth-generation Graney class nuclear-powered attack submarine. The tests of a new sea-based Bulava ballistic missile are also underway.

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