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Senior official:Russian arms exports to top $8 bln
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08:47, December 17, 2008

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Russia's military exports will exceed eight billion U.S. dollars this year, continuing an uprising momentum, a senior official said here on Tuesday.

The defense sector's contracts have kept rising in recent years, local media cited Deputy Prime Minister Sergei Ivanov who is in charge of the state's military industry.

"Notably, we are entering markets we have not had an access to before," he was quoted as saying.

Ivanov pledged that the government will take further measures such as loan guarantees to boost arms exports.

Official statistics show that Russia exported arms worth 7.5 billion U.S. dollars in 2007, ranking second behind the world's top weapon exporter, the United States.

India is a major buyer of Russian arms ranging from advanced fighter jets to aircraft carriers, though some of those deals were postponed by price increases and delivery delays.

Moscow is also striving to sell more to the Middle East, Southeast Asian and Latin American states.


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