Updated 06:06 p.m. Moscow time
PRETORIA (South Africa), September 17 (RIA Novosti) - Western sanctions have not affected Russia's arms exports and will never lead to the collapse of the country's defense industry, a Kremlin aide said Wednesday.
"Our portfolio of export orders and the volumes have not shrunk. Contracts that have been planned and will be planned in the future are not subject for revision. I don't think there will be any problems," Vladimir Kozhin, the presidential aide on military-technical cooperation, said on the sidelines of the Africa Aerospace and Defence-2014 arms show in South Africa.
According to Kozhin, the sanctions are always "double-edged and affect both sides of the conflict.
"Nobody is ever excited about sanctions as they don't bring anything good and create problems for everyone," he added.
Russian President Vladimir Putin said in July that Russian arms exports in the first half of 2014 reached $5.6 billion. And earlier in the day General Director of Russia's state arms exporter Rosoboronexport Anatoly Isaykin announced that the company's foreign orders portfolio currently stands at $38.7 billion.
The European Union and the United States have been imposing sanctions on Russia over its alleged involvement in the Ukrainian crisis, the claim Moscow has repeatedly denied. The latest round of sanctions came into effect on September 12, targeting Russian defense companies, alongside the country’s largest banks, energy companies and individuals.
Several defense companies, including Oboronprom, United Aircraft Corporation and Uralvagonzavod, were restricted from seeking finance capital on European financial markets. The European Union also banned sales of dual use equipment to Russian companies partly or wholly involved in the design and production of military and military machine-building equipment.
The Africa Aerospace and Defence-2014 exhibition of air, sea and land technologies is taking place in Pretoria, South Africa, from September 17 to 21. The exhibition is to be attended by 347 exhibitors from 26 countries and see 40,000 trade visitors from 101 states in attendance.
