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. Last Updated: 07/27/2016

Moscow Eyes Arms Sales

MOSCOW () -- Russia plans to sell more weapons and military hardware on the lucrative world arms market, seeing its technology as giving it an edge over competitors, First Deputy Prime Minister Oleg Soskovets said Thursday.

"Many of our projects are way ahead of their foreign equivalents," Soskovets said, adding that Russia faced strong competition, Interfax reported.

Russian sales of arms and military equipment will be worth about $2.5 billion this year, compared with $1.7 billion in 1994.