Russia's State Exporter to deliver abroad $12.8 bln. worth of weapons by year end

Russia's State Exporter to deliver abroad $12.8 bln. worth of weapons by year end
  • Clock-gray 13:33
  • calendar-gray 07 December 2020

Russia's state arms exporter Rosoboronexport (part of Rostec Corporation) plans to deliver abroad $12.8 billion worth of weapons by the end of the year amid a slight decrease in demand for the weapons, which is related to the coronavirus pandemic, Rostec CEO Sergey Chemezov said, APA reports citing Sputnik.

In the first 11 months of 2020, Rosoboronexport supplied abroad $10 billion worth of weapons, managing to maintain its order portfolio at the traditional level of $50 billion, Chemezov said.

Over the past few years, Rosoboronexport's yearly arms deliveries stood at slightly over $13 billion.

"This year, the volume will remain practically unchanged. We plan deliveries at $12.8 billion. There was a slight decrease in demand, as our partners were forced to withdraw a share of their defense budget for the fight against the coronavirus," Chemezov told reporters.

Apart from that, the execution of arms contracts was hampered by coronavirus-related air traffic suspensions, the Rostec CEO explained.

APA-Economics

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