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Putin Touts Record Arms Exports

Russian arms exports reached a record $14 billion this year, President Vladimir Putin said Monday.

The world's No. 2 arms exporter has cultivated new weapons clients in Southeast Asia and Africa despite criticism that it is failing to deliver the technological benefits of Western suppliers or the low costs of emerging weapons exporter China.

Putin said Russia had signed more than $15 billion in new export contracts this year alone. He did not spell out when deliveries on those deals were expected.

State arms exporter Rosoboronexport accounts for about 80 percent of Russian arms sales in a given year, and nearly 20 independent firms account for the rest with sales of spare parts and upgrades. (Reuters)

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