Russia may increase annual arms exports up to $20 billion

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MOSCOW – Russia has yet to realize its arms export potential, which could reach $20 billion by 2024, the military analyst says.

Recently, Russian President Vladimir Putin has revealed data according to which Russia has been increasing the export of military equipment over four consecutive years, approaching $16 billion a year. The total order book is US $54 billion.

Analyst Igor Korotchenko, director of the International Arms Trade Analysis Center, shares his view on Russia’s plans in an interview.

“I think Russia is planning to increase arms exports to $20 billion a year in the near future. I think that this index will be reached in the next five years,” he said.

According to Igor Korotchenko the export volume may be increased due to the sale of air defense systems both long and short range, the S-400 and Tor-M2, the Su-30SM fighters and Su-35 , as well such as air missiles and Bal and Bastion coastal defense systems.

Western sanctions do not affect the volume of Russian arms exports, the analyst said.

“Despite the US pressure, virtually no foreign partner refuses to buy our military equipment, not only because it is modern and safe, but also because Russia is a predictable partner that always fulfills all obligations,” concluded Igor Korotchenko.

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Meanwhile, the US National Interest magazine explained the reasons why the US and its NATO allies should be alert to the Russian S-400 air defense systems.

The publication stresses that the main reason is due to its potential use as a means of struggle in the economic war, in addition, of course, to a number of strategic advantages.

First is the profit from the sale of these systems, as current and potential buyers are China, India, Turkey, Saudi Arabia and Qatar. This contributes to the diversification of the economy and creates a basis for the modernization of Russian armament.

The second factor is that the S-400s generate Russia’s prestige and status as a country that develops advanced weapon systems .

The third reason is that these systems provide the creation and development of relations with the purchasing countries, since, in addition to the acquisition of the complexes, it is necessary to train the military to carry out the technical maintenance.

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