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. Last Updated: 07/27/2016

Official: Russia 2nd in Arms Exports

Russia has become the world's second-largest exporter of arms and arms servicing after the United States, a top figure in the government-owned weapons exporting company said in an interview published Thursday.

Oleg Sidorenko, deputy general director of Rosvooruzheniye, told Interfax that according to Western analysts, Russian arms exporters sold $3.5 billion worth of weapons during 1995, of which his company accounted for $2.9 billion.

"Rosvooruzheniye alone planned to sell about $3.5 billion worth in 1996, and this target is sure to have been achieved," Sidorenko said. He said final figures for 1996 should be available by the end of this month.

Last February, the Russian government helped boost the nation's arms exports by giving five weapons firms the green light to sign export deals independently.

Despite a near doubling of weapons exports over the past three years, total exports are still well below the Soviet-era peak of $15.1 billion in 1988.