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US global arms sales reach record $66.3B

Yitzhak Benhorin
YNet News [1]
August 28, 2012

WASHINGTON – The weapons sales by the United States have tripled in 2011 to a record high, a new study for US Congress which was published in the New York Times has revealed.

The surge in weapons sales is driven by major arms sales to Persian Gulf allies concerned about Iran’s regional ambitions.

According to the New York Times, overseas weapons sales by the US totaled $66.3 billion last year, or more than three-quarters of the global arms market.

Despite the global financial crisis, the increasing tensions with Iran have led a set of Persian Gulf nations, Saudi Arabia, the United Arab Emirates and Oman, to purchase American weapons at record levels.

The three Arab countries, who do not share a border with Iran, mainly focused on buying expensive warplanes and complex missile defense systems.

Full article here [1]