Today in Russian Business – Oct 14, 2010

The Center for Analysis of World Arms Trade, a Russian think thank, says that India received $9.87 billion worth of arms from Russia (60% of its total arms imports) in the period 2002-2009, making Russia its top supplier.  Israel Aerospace Industries and Oboronprom have signed a contract, potentially worth $4 million, for work on building aerial drones.  Bank Rossii’s First Deputy Chairman Alexei Ulyukayev says Russia ‘supports diversification‘ of its foreign currency reserves and is considering various options for how to proceed.  Finance Minister Alexei Kudrin is hinting that Russia should give up its ‘aggressive policy‘, saying that ‘demand should be shaped up by the private sector‘.