Official: Russian Arms Sales To Set New Record

[Purveyor]

MOSCOW -

Russian arms sales are set to reach a new post-Soviet record this year, a top official said Tuesday.

Russia's weapons exports will exceed $8 billion this year, Russian news agencies quoted Mikhail Dmitriyev, head of the Federal Service for Military and Technical Cooperation, as saying.

Arms sales have grown at a quick pace, reaching a post-Soviet record of $7.5 billion last year and on track to surpass that for 2008.

According to the latest report by Stockholm International Peace Research Institute, Russia accounted for a quarter of global arms sales in 2003-2007, coming a close second after the United States.

While China and India have been the leading customers, Russia recently also has struck big weapons deals with Venezuela, Algeria and Iran.

Dmitriyev on Tuesday confirmed that Russia completed the delivery of 24 Su-30 fighter jets to Venezuela.

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AP: http://www.forbes.com/feeds/ap/2008/08/05/ap5289943.html