BREAKING NEWS

Report: Russia arms exports at record level till 2014

By REUTERS

MARCH 28, 2011 09:26

MOSCOW - Russian arms exports are expected to stay at record levels of about $10 billion a year until at least 2014 as top customer India continues to beef up its armaments, leading military think tank CAST said on Monday. Peddling missiles, submarines and fighter planes, Russia is feeding a hungry market of Asian countries warily eyeing China's growing military might and African nations preparing for the worst in potential regional conflicts.

As the world's second top arms exporter, Russia ended last year with a record $45 billion contract portfolio. Arms exporters signed $15 billion in contracts during the year, CAST estimated.

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