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Tuesday, July 08, 2014

Arms Exports Thrive Amid Military Revamp

Hanoi (Kilo) class SSKPresident Vladimir Putin announced Monday that Russian arms exports continue to flourish, with $5.6 billion worth of weapons and military hardware having been sold in the first half of 2014, while its portfolio of export orders have expanded by $15 billion.

Moscow's plans to expand its presence on the global arms market come at a time when the modernization of Russia's military and industrial production base is high on the agenda.

The need for boosting domestic arms production has been highlighted by events in Ukraine, where Russian defense contractors are deeply integrated with large firms like Yuzhmash, which makes thousands of military components for the Russian defense sector.

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