MOSCOW. Nov 9 (Interfax) - Russia was the world leader in terms of exports of weapons and military hardware between 2001 and 2005, according to the Russian edition of the Stockholm International Peace Research Institute (SIPRI) Yearbook-2006, which was presented in Moscow on Friday.

According to the Yearbook, the largest world weapons exporters were Russia, the U.S., France, Germany, and the UK. Russia accounted for 31% and the U.S. for 30% of world weapons exports in the said period, it says.

SIPRI experts explained Russia's leadership in this sector by the fact that Russia sells a lot of weapons cheaper than other suppliers.

Despite growth in military expenditures in Russia, its defense industry still depends on exports, it says.

For details see the Interfax Military News Agency wire.