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Russia's defense industry

Russia's arms export revenues in 2014 remained record-high at above $15 bln — PM

The share of weapons in the overall Russian export stood at 3.2%

© ITAR-TASS/Yuri Belinsky

MOSCOW, April 21. /TASS/. Russia’s revenues from the export of weapons and other military hardware last year remained record-high at above $15 billion, Prime Minister Dmitry Medvedev told the State Duma (lower house of Russia's parliament).

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"Russia firmly holds one of the leading places on the list of world arms exporters," Medvedev told the lower house of parliament in a review of his Cabinet’s performance in 2014. "According to early estimates, the share of weapons in the overall Russian export stood at 3.2% last year," he said. "Weapons export revenues reached a very high level of $15 billion in 2013. They stayed that high in both 2013 and 2014. Let me remind you that the contracts portfolio is about $49 billion."

Speaking of import substitution, Medvedev said that work along these lines began back in 2008-2020 under the federal program for the defense industry. Last year special timetables were drawn up and adopted for measures to replace components originally supplied from Ukraine, NATO countries and the European Union.

"That program must be taken to a logical outcome," Medvedev said.

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Dmitry Medvedev Military equipment Arms Russian defense industry

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