Russia's Rosoboronexport Sold Abroad $10Bln Worth Of Weapons In 1 Year - Think Tank


Russia's Rosoboronexport Sold Abroad $10Bln Worth of Weapons in 1 Year - Think Tank

MOSCOW (UrduPoint News / Sputnik - 30th October, 2020) Russia's state arms exporter, Rosoboronexport, sold abroad over $10 billion worth of weapons and signed contracts with a total worth of $9.17 billion between October 2019 and October 2020, the Centre for Analysis of Strategies and Technologies (CAST) said on Friday.

"Between October 2019 and October 2020, foreign trade contracts were signed for a total of $9.17 billion, and over $10 billion was received over the past year. At the same time, the volume of foreign customers' debt, which emerged due to the sanctions imposed on Rosoboronexport, decreased significantly (by over 40 percent)," Russia's defense industry think tank said in a press release.

CAST praised Rosoboronexport for maintaining its $50 billion portfolio of orders despite the sanctions pressure, restrictions on international cooperation, including those related to coronavirus quarantines, and the heightened competition in the military equipment market.

This guarantees workload for over 700 Russian defense industry enterprises for the next three years, CAST specified.