China and Russia Increasing the Speed of Military Modernization

Wednesday, May 18, 2011
By Paul Martin

by Diplomatic Courier
OilPrice.com

The Kremlin recently revealed that Moscow has pledged $640 billion in an effort to bring 80% of the Russian military establishment up to modern standards by 2020. Consequently, Vladimir Popovkin, deputy defense minister in charge of arms procurement, recently suggested to the media that the Russian defense ministry plans to buy around 600 airplanes and 1000 helicopters. He further stated that the Ministry was planning to fund the development of a “new liquid fuel heavy intercontinental ballistic missile to replace aging RS-18 Stilleto and RS-20 Satan”. These missiles would be able to carry up to 10 warheads with solid fuel missiles each carrying a maximum of three warheads. It was further revealed that the Russian government plans to lend $24 billion to defense companies to help prepare for bigger contracts after 2015.

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