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Russia increases defense expenditures with oil and gas revenue – plans to flex mussel to gain back the super power status!
Pratap Singh
Jun. 12, 2005
The Russians plan to increase defense expenditures. They are on their way to gain back the super power status with the huge export revenue from oil and gas. India and China will transfer their huge Foreign Exchange Reserves to Russia to ensure reliable and stable energy supply in the face of exponential growth in energy demand.
The Russian Defense Ministry's 2005 arms purchase and development budget will be around $6 billion, more than "we annually get from the entire arms business," head of the Russian Defense Ministry, Sergei Ivanov, said on June 10.
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