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Russia Seeks End to Iran Arms Embargo
(Bloomberg) Jonathan Tirone and Henry Meyer - Russia is poised to reap $7 billion from arms sales to Iran over the next decade in the event of a nuclear deal, according to Ruslan Pukhov, head of the Moscow-based Center of Analysis of Strategies and Technologies. The Islamic Republic needs a "huge upgrade" of its fighter jets, navy and air defense systems, he said. Russian Foreign Minister Sergei Lavrov said, "It is essential to reach an agreement on lifting the arms embargo as soon as possible." With or without a deal, Iran's military is close to producing armor-piercing weapons made from either natural or depleted uranium, said Karl Dewey, a London-based IHS Janes analyst. Their high heat and density can melt through thick alloys to deposit their explosives. Iran's ability to turn the leftovers from its uranium enrichment program into armor-busting munitions has been a subject of the current nuclear talks, according to a U.S. administration official.