RIA News Agency by Reuters

Moscow – President Vladimir Putin emphasized the need for Russia to enhance its arms exports to support the defense industry, thus creating more high-quality jobs within the labor market. His comments were made during a meeting focused on military cooperation with other nations.

With ongoing military tensions with the West over the annexation of Crimea from Ukraine, Russia’s role as a longstanding arms supplier to Syria continues. Opposition forces in Syria are actively working to oust President Bashar al-Assad.

Putin highlighted the importance of reinforcing Russia’s presence in global arms markets, remarking that this expansion would aid national defense industries in planning for growth and modernization, ultimately contributing to the creation of new, high-quality jobs.

As the leading arms exporter globally, Russia reported weapon sales totaling approximately $15.7 billion in 2013, primarily consisting of firearms, missiles, and fighter jets. Key clients for Russian military equipment include India, China, and Venezuela.

In addition to exporting arms, Russia is also focused on modernizing its own military capabilities. The recent deployment of small mobile units that facilitated the seizure of Crimea demonstrates this modernization, which has led to sanctions imposed by the West.

Concerns regarding Russia’s military intentions have resulted in unease among foreign investors, prompting a withdrawal of funds that has adversely affected the nation’s economy. The Ministry of Economic Development forecasts that GDP growth will slow to roughly 0.4 percent this year, although there is a possibility for an upward revision, according to Minister Alexei Ulyukayev.

Capital flight from Russia may amount to approximately $80 billion in the first half of the year, as reported by Ulyukayev.

In recent months, Moscow has also increased the frequency of unannounced military exercises, which Putin states will continue to ensure that the army remains combat-ready. Additionally, he called for intensified efforts to replace defense industry imports, particularly from Ukraine, with domestic production to achieve self-sufficiency in this sector.

According to Putin, Russian arms exports in the first half of 2014 reached $5.6 billion.