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Thursday, February 23, 2012

Russia revs up arms exports

Kilo class submarineIn 2011, Rosoboronexport, Russia’s main arms exporting agency, fetched $13.2 billion from its arms and military equipment sales, which exceeded the initial goal by $1.6 billion.

Russia is the world’s second biggest arms exporter. By 2012, experts predict its turnover to surge even higher, surpassing the $14 billion mark.

The munitions market is one of those few spheres where Russia stands at par with Western powers. It is a considerable success, even though Russia slightly lags behind the US, whose sales revenues have reached $28-34 billion in 2011.

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