Putin says he wants boost to Russian arms exports
Sign up now: Get insights on Asia's fast-moving developments
Russian Yars Intercontinental ballistic missiles travel through Moscow during a rehearsal for the Victory Day parade on May 3.
PHOTO: AFP
Follow topic:
MOSCOW - President Vladimir Putin said on May 23 that Russia needs to strengthen its position in the global arms market by increasing exports of weapons.
In televised remarks, he also said the country's military complex needs more state support to develop its potential.
Since Moscow sent thousands of troops into Ukraine in February 2022, the defence industry has been largely focused on domestic military production
It has entailed a massive effort to build new missiles, drones and shells as well as recondition ageing Soviet-era tanks, vehicles and artillery.
According to the Stockholm International Peace Research Institute (Sipri), Russian arms exports dropped to 7.8 per cent of the global market in the 2020-24 period, compared with 21 per cent in the previous four-year period, as a result of international sanctions over the conflict in Ukraine and increased domestic demand for weapons.
India, China and Egypt are among the biggest buyers of Russian arms.
"The portfolio of orders for Russian military products is now serious. It is tens of billions of dollars. And it is necessary to actively increase the volume of export deliveries," Mr Putin said.
He also singled out weapons that utilise Artificial Intelligence (AI).
"The future of the global arms market lies with such technology. Strong competition will unfold here, and is already unfolding, for which we must be prepared," Mr Putin said.
Western and Ukrainian officials acknowledge the Kremlin has done better than anyone expected when it comes to the battle to produce military equipment, but it has been hindered by increasingly stringent Western sanctions covering a growing number of industrial and other components.
In April, Mr Putin acknowledged that Russia's armed forces remained short of certain weapons, including drones, despite a big increase in output. REUTERS
