Russian arms exports have plummeted in recent years after international sanctions were imposed in the aftermath of the invasion of Ukraine, according to a recent report from the Stockholm International Peace Institute and British intelligence.

The Russian Federation has dropped from the world's second-largest arms exporter to the third-largest, while the United States remains the world's preeminent purveyor of arms. Russia's decline was both sharp and rapid - with a 53% decrease between 2014-18 and 2019-23.

"While Russia exported major arms to 31 states in 2019, it exported to only 12 in 2023," the SIPRI report said. "States in Asia and Oceania received 68 percent of total Russian arms exports in 2019-23, with India accounting for 34 percent and China for 21 percent."

The British Ministry of Defense released a statement on X, the platform formerly known as Twitter, discussing the reasons behind Russia's falling status.

"The decline is likely due to several factors including Russia prioritizing equipment for operations in Ukraine due to continuous battlefield losses, and reduced customer demand due to the risk of associated sanctions and global condemnation of Russia's responsibility for the war," the ministry wrote.

Several countries with long-established relationships with Russia decreased the number of imported arms in recent years. While Russia remains the top arms supplier for India, this was the first five-year period since 1960-64 that Russia (or its antecedent the USSR) supplied less than half of India's arms.

Russia's exports to China also decreased - with the latter country prioritizing internal manufacturing of arms, rather than importation.

While Russia's exportation numbers decreased, the U.S. has strengthened its status as the world's largest exporter.

"The USA has increased its global role as an arms supplier - an important aspect of its foreign policy - exporting more arms to more countries than it has ever done in the past," said Mathew George, Director of the SIPRI Arms Transfers Programme, in a press release. 

"This comes at a time when the USA's economic and geopolitical dominance is being challenged by emerging powers."