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Russia sold arms worth $15 bn in 2012
January 22, 2013, 9:07 am

[Getty images]

Russian weapon exports have tripled since 2003. [Getty images]

Russia’s Federal Military-Technical Cooperation Service (FSMTC) reported on Monday that Russia sold a record $15.16 billion worth of weaponry in 2012.

Fellow BRICS member, India, is the leading purchaser of Russian arms. Afghanistan, Ghana, Oman, and Tanzania have joined the list of clients in 2012.

“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,” FSMTC chief Alexander Fomin told a government meeting on state defense contracts.

Russia reported arms sales of $13.2 billion in 2011, enough to maintain its position as the world’s second arms exporter after the United States.

“In the past ten years, we have seen a general increase in exports, which have tripled since 2003,” Fomin said.

“The portfolio of orders for defense-related products has also tripled. Its current value exceeds $46 billion,” he added.

Myanmar,Vietnam, Venezuela and Middle East countries also among the Russian defense industry’s main clients.

Fomin said his service was drafting new legislation that would allow Russian arms manufacturers to open their own service centres abroad and to import defense-related products to satisfy their own needs.

Source: Agencies