Russia Grabs $2.5 Billion In Weapons Sales In First Two Months

Russia sold weapons worth $2.5 billion to militaries around the world in the first two months of 2013, according to the Federal Service for Military and Technical Cooperation.

 “In the first month of this year, we sold arms worth $1 billion. In the first two months, total weapons sales exceeded $2.5 billion,” Alexander Fomin, head of the Federal Service for Military and Technical Cooperation.

Fomin said Russia’s portfolio of foreign orders for arms now totals some $46 billion, with “80 percent of this portfolio accounting for orders for the next three to four years.”

He added that in 2012, Russia sold other countries arms worth over $15 billion, which was 12 percent more than originally planned and $2 billion more than in 2011.

Speaking about Russia and Iraq, Fomin said the countries have not signed contracts for the delivery of armaments and military hardware to the Middle East country.

With regard to the $4.2 billion deal with Iraq, Formin also clarified that contracts haven’t been signed yet.

“No deal has been struck. We will announce when there is one,” he said.