News / Russia

Putin says Russia's arms sales top $15 billion in 2014

Wednesday, 28 January 2015 2:06 AM [ Last Update: Wednesday, 28 January 2015 2:59 AM ]

Russian President Vladimir Putin during a meeting outside Moscow on January 15, 2015 (AFP photo)

Russian President Vladimir Putin says the country’s arms sales have been put at over USD 15 billion in 2014, with new orders standing at nearly USD 14 billion.

Russia plans to expand its arms sales to markets in the Asia-Pacific region, Africa, Latin America and the Caribbean, Putin said during a meeting with the Federal Service for Military-Technical Cooperation at the Kremlin on Tuesday.

Moscow exported military equipment to over 60 countries last year, the Russian president stated.

“Exports of high-tech military products is important for Russia, especially amid the difficult geopolitical situation. It is important for updating the production of the defense sector... and solving many social issues,” Reuters quoted Putin as saying.

Russia is ranked the world’s second-largest weapons exporter after the United States.

“The new challenges and threats are compelling many countries to revise their military doctrines and modernize their national armed forces,” Putin said.

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