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Putin: Russia Not Seeking 'Arms Race'

President Vladimir Putin said Wednesday that Russia's military modernization program does not mean the country is going to become involved in an arms race. Speaking at a meeting in Sochi with arms industries officials, Putin described the ongoing upgrade of Russia's military as simply a matter of "catching up" after the armed forces and defense industries were "chronically underfunded" in the late 1990's and early 2000's. "We are not going to...

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