Russian Arms Trader Exceeds 2014 Sale Forecasts by $22Mln Despite Sanctions

Russia's state arms trader Rosoboronexport exceeded its export projections by $22 million in 2014, with $13.2 billion in weapons sales, the company's director general Anatoly Isaykin told RIA Novosti Tuesday.

LANGKAWI, Malaysia, (Sputnik) — Weapons export numbers have not been affected by the sanctions imposed in 2014 against Russia. The restrictions targeted defense sector and other elements of the country's economy.

"The plan for 2014 was $13.178 billion, we supplied armament for $13.2 billion, that is slightly exceeding the plan. I think, that this year and the next year will see the same numbers," Isaykin said.

The state intermediary defense export and import agency was slightly hampered by Western anti-Russia sanctions, as well as import substitutions from Ukraine, Isaykin added. The challenges did not effect 2014 results.

The United States, the European Union and their allies imposed several rounds of anti-Russia sanctions aimed at weakening Russia's economy and specifically its defense industry in 2014 over Moscow's alleged interference in Ukraine conflict. Russia has repeatedly denied the accusations.

Russian and Ukrainian defense sectors were deeply integrated after the collapse of the Soviet Union. However, Ukrainian National Security and Defense Council decided to suspend military cooperation with Russia after the March 2014 Crimean reunification with the latter.

In order to replace foreign components used in the country's defense industry, Russia began work on an import substitution program. The military equipment and arms import substitution plan was finalized December 2014 and intended to eliminate Russia's dependency on foreign-made defense products.