The U.S. government is on track to approve nearly $40 billion (£30.1 billion) in foreign military sales in the 2016 fiscal year that ends Oct. 1, down from $46.6 billion last year, a top Pentagon official said on Wednesday.

“We’re tracking toward $40 billion. We’re tracking towards our forecast,” U.S. Navy Vice Admiral Joe Rixey, who heads the Pentagon’s Defense Security Cooperation Agency (DSCA), told Reuters at the Farnborough International Airshow.

Rixey said the total could still fluctuate, depending on what happened in the fourth quarter.

Britain’s vote to leave the European Union should not affect its relationship with the United States, or potential future arms sale, Rixey said, citing two large UK arms purchases of Boeing Co equipment announced on Monday. […]