And despite a rise of 800 million dollars (around 10 percent) in arms sales on 2007, Medvedev told his top officials to boost further purchases by seeking out new international markets.

"It is obvious that this year will not be easy because the whole world is going through the financial crisis, and this affects purchase volumes, arms purchases too," he said, according to a statement on the Kremlin website.

But he told top officials that "we need to diversify our supplies, enter those markets where we have not been traditionally present or we are present but not in proper volumes and try to take root there".

"It is a new record," said Ruslan Pukhov, director of the Centre for Analysis of Strategies and Technologies, a think tank.

He put down the record sales to strong economic growth and high oil prices benefiting Russia's traditional clients India, Algeria and Venezuela as well as lobbying efforts by Prime Minister Vladimir Putin.

"Direct personal involvement by the former president and current prime minister has promoted the Russian-made products," he said.

Russia is now the world's third or fourth biggest supplier of arms, after US, Britain and France, depending on the methodology used, according to Pukhov's centre.

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