Country to set record arms sale

Moscow (AP):

A senior Russian official says the country will set a new post-Soviet record in arms sales this year. Deputy Prime Minister Sergei Ivanov, who is in charge of military industries, was quoted by Russian news agencies as saying yesterday that weapons exports will reach $10 billion this year. That would mark the 11th straight year of increasing sales. Last year, Russia sold more than $8.5 billion worth of weapons. It has been second only to the United States in global arms sales over recent years.

While arms sales to Russia's former number-one customer China have diminished considerably, there has been robust demand from other nations, including Venezuela and Algeria. Ivanov said Russia has new weapons orders from foreign customers exceeding $45 billion.