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Russian arms sales reach $15 billion in 2012 news
22 January 2013

Russia sold $15 billion worth of defence equipment in 2012, maintaining its position as the world's second-largest arms exporter after the US, Ria Novosti reported yesterday.

''The volume of arms exports has reached $15.16 billion, according to preliminary calculations, which means that our plans have been fulfilled by 111.8 per cent,'' chief of Russia's Federal Military Technical Cooperation Service (FSMTC) Alexander Fomin told a government meeting Monday.

The 2012 arms sales are 15 per cent higher than the figure of $13.2 billion in 2011.

"In the past 10 years, we have seen a general increase in exports, which have tripled since 2003,'' Fomin said.

He further stated that Russian arms manufacturers currently have orders worth over $46 billion to be fulfilled in the coming years.

India is Russia's largest arms purchaser as defence cooperation has been the basis of India-Russia relations.

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Russian arms sales reach $15 billion in 2012