Oleg Davygora02:28, 08.12.24

At the end of December, Russia’s revenue from these sales will be less than $1 billion.

Russian arms exports have been falling since the start of the war in Ukraine and have fallen further this year. According to a defense policy expert, they will fall by 93 percent in three years by the end of 2024.

According to estimates by Pavel Luzin, a research fellow at the Democratic Sustainability Program at the Center for European Policy Analysis, Russia’s revenues from these sales will amount to less than $1 billion by the end of December, Newsweek writes .

It is noted that in 2021 this figure was 14 times higher – $14.6 billion. After the attack on Ukraine, Russia’s sales revenues fell to $8 billion in 2022, and then to $3 billion at the end of 2023.

“It is clear that the military-industrial complex is counting on a stop, a freeze, an end to the conflict in order to return to fulfilling export contracts, because they provided a good inflow, including hard currency,” Luzin said.

Data from the Stockholm International Peace Research Institute (SIPRI) showed that Russia has dropped to third place in arms exports for the first time. It previously held second place behind the United States, but has now been overtaken by France.

According to SIPRI, in 2019, Russia exported weapons to 31 countries, while in 2023 – to only 12

(C)UNIAN 2024