Russia's 2014 arms sales top $15 billion: Putin

Reuters
Russian President Vladimir Putin attends a meeting with his counterpart from Venezuela Nicolas Maduro at the Novo-Ogaryovo state residence outside Moscow, January 15, 2015. REUTERS/Pavel Golovkin/Pool

MOSCOW (Reuters) - Russia sold more than $15 billion worth of arms in 2014, President Vladimir Putin said on Tuesday, adding that new signed orders stood at nearly $14 billion. Russia is the world's second-largest arms exporter after the United States. Putin also said Russia exported military equipment to more than 60 countries last year, when its ties with the West hit a rocky bottom over the conflict in Ukraine. "Russia will expand its presence on such prospective markets and the Asia-Pacific region, Africa, Latin America and the Carribbean," Putin told a meeting at the Kremlin. "Exports of high-tech military products is important for Russia, especially amid the difficult geopolitical situation. It is important for updating the production of the defense sector...and solving many social issues." (Writing by Gabriela Baczynska; Editing by Hugh Lawson)