Alexey Krivoruchko, CEO of Kalashnikov Group, poses for a photograph during an interview with Reuters in Abu Dhabi, United Arab Emirates February 21, 2017. REUTERS/Stringer
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Russian weapons maker Kalashnikov Group's sales doubled last year, helped by demand in the Middle East for its drones, missiles, rifles and military vehicles, making up for U.S. sanctions that cost it its largest market, its chief executive said. Kalashnikov, whose AK47 assault rifles have armed Russian forces for 70 years, embarked on a modernization program and targeted new markets after it was ousted from the United States due to sanctions for Russia's role in the Ukraine conflict. It invested 10.5 billion rubles ($182 million) over 2014 to 2017 and targeted new markets for its lines of assault and sniper rifles, guided artillery projectiles and precision weapons.
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