The UK Defense Ministry said this in an intelligence update published on X, Ukrinform reports.
The ministry refers to research from the Stockholm International Peace Research Institute (SIPRI) dated March 11, 2024, according to which Russian arms exports fell by 53% between the periods 2014-2018 and 2019-2023.
As a result, Russia dropped from second to third place in the global arms export rankings, analysts said. Russian arms export volumes were 52% lower in 2023 than in 2022, while only 12 countries received major Russian arms in 2023, compared to 31 in 2019.
Read also: Russia's oil refining capacity reduced amid Ukrainian UAV attacks - British intel"The decline is likely due to several factors, including Russia prioritizing equipment for operations in Ukraine due to continuous battlefield losses and reduced customer demand due to the risk of associated sanctions and global condemnation of Russia's responsibility for the war," British analysts said.
