Russian arms sales total $10 billion in 2010

Russian arms sales total $10 billion in 2010

2010-12-15 09:44:38 GMT+7 (ICT)

MOSCOW, RUSSIA (BNO NEWS) -- Russian Deputy Prime Minister Sergei Ivanov on Tuesday said that figures indicate that the country sold approximately $10 billion in arms and military equipment this year, RIA Novosti reported.

"According to even the most conservative estimates, the export of military products in 2010 - to more than 60 countries - will exceed $10 billion," said Ivanov, as cited by RIA Novosti.

Despite the worldwide financial crisis and sanctions on some purchasers, the European power managed to increase its weapons sales in 2010. In 2009, Russia registered a total of $8.5 billion in weapon sales.

Arms and military equipment sales are a clear economic indicator and also demonstrate the extent of Russian influence all over the world. The figures increased after Russia allowed other companies such as Sukhoi and MiG to export weapons.

Rosoboronexport was the only company allowed to sell weapons to foreigners. Still, the defense company is also the sole enterprise in Russia authorized to export the whole range of defense and dual-use products, technologies and services.

The United States and Russia are the two nations that dominate the weapons market. From 2006 to 2009, the United States made $68.7 billion in arms sales. During this same period, Russia earned $42.4 billion.

One of the latest Russian arms deals was announced in November as Russia and Indonesia signed a $54 million deal for the delivery of munitions for Sukhoi-family fighters to Indonesia.

Russia sold weapons and military equipment to over 60 countries mainly in South-East Asia, the Far East, and the Middle East. Israel and the U.S. have expressed their concern as Russia continues to sell weapons to nations that allegedly pose a risk to others, such as Syria and Venezuela.

-- © BNO News All rights reserved 2010-12-15