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Iran Spurs Boost in US Arms Business

The three-fold boost in American arms sales last year is being attributed to the US building the military capabilities of allies potentially facing-off against Iran. In 2011, the US represented $66.3 billion out of total global arms sales of $85.3 billion according to a new report by the Congressional Research Service that was released on Monday. By contrast, Russia, which is the second-most prolific purveyor of arms, sold a mere $4.8 billion worth of military equipment. Equally staggering is the jump in US arms sales from $21.4 billion in 2010 to $66.3 billion last year. According to the report, the primary recipients of the elevated arms purchases were Saudi Arabia, Oman and the United Arab Emirates.