Why yes it is and Russia has announced intentions to help arming their military going forward, but some folks seem to think it's still the cold war.
It seems to me that outfitting the Iraqi military with Russian equipment is appropriate. After all, for many, it is a leap of technology from camel to M1-A1. The more primitive and less expensive Russian stuff, at this point, would be easier to phase into a new Army and would still be more than adequate in an area/neighbor countries similarly equipped.