Russian Weapons Sales Reach $7Bln in 8 Months - Russian Arms Exporter

Rostec CEO Sergey Chemezov said that Rosoboronexport was planning to sell more than $13 billion worth of weapons in 2016 and arms exporter has already sold arms at a cost of $7 billion.

KUBINKA (Moscow Region) (Sputnik) — Russian state arms exporter Rosoboronexport has sold $7 billion worth of weapons over the past eight months, the company’s deputy director general told Sputnik Tuesday.

Earlier in the day, Rostec CEO Sergey Chemezov said that Rosoboronexport was planning to sell more than $13 billion worth of weapons in 2016.

"This year's plan stipulates sales of arms worth some $13 billion, we have already sold [arms] at a cost of $7 billion, that means more than a half [of our target]," Sergey Goreslavsky said, speaking at the Army-2016 military forum.

He added that Russia would receive large payments under its contracts with Iran and China by the end of the year.

Rosoboronexport is responsible for over 85 percent of Russian arms and military technology exports, according to the Rostec state technologies corporation, which owns the arms exporter.

The Russian Defense Ministry's Army-2016 forum is taking place on September 6-11 in Kubinka, a western suburb of Moscow. The forum brings together representatives from the Russian defense industry, research institutes, universities, as well as foreign companies. Over 800 Russian and foreign participants are expected to be involved in some 7,000 exhibitions throughout the week. The forum's participants and guests will attend a number of conferences and roundtables to discuss the future development of military technology.