By IANS/RIA Novosti,
Moscow: Russia’s overseas arms sales exceeded $14 billion this year, outperforming forecasts by over $500 million, President Vladimir Putin has said.
India is the leading purchaser of Russian arms, with Vietnam, Myanmar, Venezuela and countries of the Middle East also figuring among main clients of the Russian defence industry.
Russia’s defence industry also sealed export contracts worth another $15 billion in 2012, the president said in Moscow Monday.
But Russia should work to expand its range and strengthen its position on the market for the maintenance and modernisation of military equipment, Putin said, speaking at a session of a governmental commission on the defence industry.
The Russian Federal Service for Military and Technical Cooperation forecasted arms exports in 2012 would stand at $13.5 billion.
Russia reported arms sales of $13.2 billion in 2011, enough to maintain its position as the world’s second arms exporter after the US. The US Defence Security Cooperation Agency reported overseas arms sales of $34.8 billion last year.