MOSCOW

President Vladimir Putin on Friday said Russia is still among the top players in the global arms market, despite unprecedented Western sanctions.

In an address, Putin said Russian arms producers and exporters manage to implement their tasks despite "unprecedented sanctions pressure."

"Russia confidently retains its status of one of the leaders of the global arms and military equipment market.

"Despite unprecedented sanctions pressure and unfair competition from the US and a number of Western countries, you are actively solving the tasks set, exporting significant volumes of Russian military products, paying tireless attention to the modernization of production facilities, increasing their research and development potential," Putin said.

The president added that cooperation in the military field will contribute to strengthening Russia's military influence, forming an atmosphere of friendship and trust in relations with allies and their partners, economic growth, and increasing the well-being of its citizens.