Russia forecasts drop in arms export revenue – By Defense News Staff (Defense News) / Aug 29, 2022
The head of Russia’s weapons export branch said arms export revenue total in 2022 is likely to total about $10.8 billion, which would be roughly 26% lower than reported for 2021.
The forecast follows the Army 2022 defense expo in Moscow, where Russian President Vladimir Putin vowed to expand military cooperation with the country’s allies and expressed a readiness to sell them “the most advanced types of weapons: from firearms, armor and artillery to warplanes and drones.” He didn’t name any country in particular on Aug. 15, but said “Russia sincerely values its historically strong, friendly and trusting relations with countries of Latin America, Asia and Africa.”
Alexander Mikheyev, the director general of Rosoboronexport, said arms exports have accounted for $5.4 billion so far this year, and the country expects the remainder of the year to bring in the same amount of revenue.
Meanwhile, Dmitry Shugayev, the head of the government’s Federal Service for Military-Technical Cooperation, said during the expo that arms exports brought in $14.6 billion in revenue for 2021.
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