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Russian arms sales hit $14B

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MOSCOW, Dec. 17 (UPI) -- Russian arms sales will exceed $14 billion in 2012, more than $500 million over its forecast, Russian President Vladimir Putin said.

The total puts Russia second among nations in arms sales, behind the United States, which reported $34.8 billion in weapons revenue last year, RIA Novosti reported Monday.

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Russia's best customer is India, followed by Vietnam, Myanmar, Venezuela and several Middle Eastern countries, the news agency said.

In addition to the $14 billion in sales, Putin told ministers with the Russian Federal Service for Military and Technical Cooperation the country has secured another $15 billion in future contracts.

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