"In the past four years, Ukraine exported over $2.5 billion in arms, but only about 1 billion hryvnias ($200 million) was paid into our state budget," said Valery Konovalyuk of the Party of Regions, RIA Novosti reported.

Konovalyuk was assigned to head a parliamentary investigation commission that looked into the alleged budget discrepancies. He said the group has state treasury documents to support his claims.

RIA Novosti said the allegations come in the wake of critical comments by Russian Prime Minister Vladimir Putin about alleged arms sales to Georgia by Ukraine.

"I don't think there is a graver crime than supplying arms to a conflict zone," Putin said in reference to the alleged sales.