Russia To Spend $186B On Arms By 2015
Shaveta Bansal - All Headline News Contributor Moscow, Russia (AHN) - Russia will spend $186 billion on buying arms between 2007 and 2015, Defense Minister Sergei Ivanov was quoted as saying on Friday. "Over nine years almost 5 trillion Roubles ($186 billion) will be apportioned," Interfax news agency quoted him as telling a meeting of the government military-industrial commission, which he heads. According to a report by Reuters, domestic orders are seen as a boost to an arms industry that is fighting to recover from a post-Soviet decline. General Yuri Baluyevsky, head of Russia's General Staff, said last year he feared the domestic arms industry might not be large enough to supply the armed forces by 2011. The arms export trade, however, is lucrative for Russia, earning it some $6 billion last year. Almost half of the sales went to China. India, Syria, Iran, Venezuela and Myanmar are also buyers.
Article © All Headline News - All Rights Reserved
|
