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Weapons of Mass Destruction (WMD)

Russian Arms Export Portfolio Stable, Stands at Over $50 Bln – Putin

Sputnik News

15:30 25.05.2015(updated 18:22 25.05.2015)

Russian President Vladimir Putin said that Russia must create a new generation of weapons and military equipment, train new, highly skilled professionals, strengthened country's position on the global market.

MOSCOW (Sputnik) – The export order portfolio for Russia's arms industry currently stands at over $50 billion, Russian President Vladimir Putin said Monday.

"As of today, the portfolio of export orders is stable and exceeds $50 billion. At the same time, of course, we must move forward, raise the bar, create a new generation of weapons and military equipment, train new, highly skilled professionals, strengthen Russia's position on the global market," Putin said.

"We are seeing more and more attempts of direct counteractions, sometimes these attempts go beyond the limits of competitiveness and carry an obvious aggressive character, and perhaps political instruments are used as veiled means in competitiveness," Putin said during a meeting dedicated to military technical cooperation with foreign countries.

But Russia will develop military technical ties with all of its allies and strategic partners and will conquer new markets, as well as gradually employ its import substitution program in defense industry.

"We will of course develop our military technical ties with all of our allies and strategic partners and gradually realize our program of import substitution in the defense industry, as well as gain new markets," Putin said during a meeting dedicated to military technical cooperation with foreign countries.

Russia currently holds the second place in the world on the weapons market with 27 percent after the United States that holds 31 percent of the world market, according to Vladimir Putin.

"Russia holds a solid second place in the list of world leaders in arms deliveries and military equipment, and this is of course a serious breakthrough on such a complex and dynamically developing market. According to figures from international institutes, the United States holds the first place with 31 percent of the market and Russia is in second place with 27 percent of the market," Putin said during a meeting dedicated to military technical cooperation with foreign countries.

Putin said that arms exports for last year topped $15.5 billion and has been holding steadily on that level for the last three years.

"In 2014, new contracts were signed worth $14 billion, and as of today, the portfolio of export orders is stable and exceeds $50 billion," Putin added.

The termination of cooperation with Russia has put many Ukrainian defense companies on the brink of bankruptcy.

"Before our eyes is the example of our neighbor, Ukraine, where the severing of vital longtime cooperation with Russia has put many defense enterprises on the brink of bankruptcy, forced them to cut qualified staff," Putin said during a meeting dedicated to international military-technical cooperation.

Last week, Kiev terminated the 1993 agreement on defense technology cooperation with Russia.

In late January, Ukrainian lawmakers passed a declaration proclaiming Russia an aggressor against Ukraine, asking the United Nations to deprive Russia of its membership and requesting military aid from other countries.

Ukraine has consistently relied on Western military aid since it launched a military operation against pro-independence militia in the country's southeast in April 2014. On May 15, the United States authorized providing Ukraine defensive lethal aid worth $300 million.

Sputnik



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