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Tuesday, March 10, 2015

Cheap Oil Threatens to Shrink Record Russian Arms Sales

Su-35 Flanker-ERussian arms export deliveries reached a record $10 billion last year, but declining oil prices and Western sanctions threaten to derail the country's ongoing expansion in the arms market, according to a report on the international defense industry released Sunday.

Russia, the world's second-largest defense exporter after the United States, saw a 9 percent rise in exports last year compared to 2013, according to data collected by industry analysts IHS.

Russia's official numbers for its exports last year are slightly higher, coming in at $13 billion, continuing a decade-long upward trend.

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