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. Last Updated: 07/27/2016

Arms Sales at Limit

MOSCOW () -- State-owned arms trader Rosvooruzheniye has a real portfolio of orders worth $7 billion, company chief Alexander Kotelkin told NTV independent television on Monday.

The financial commitments to Rosvooruzheniye by other governments exceed orders held by the U.S. military-industrial complex, Kotelkin said.

Russia expects to earn $7 billion for arms shipments within two to five years, Kotelkin said, the bulk of which should reach the Russian budget within 2 1/2 years. Russia earned $3.5 billion from arms sales in 1996, he said.