The cross-party committee said only 31 UK licences had been halted or suspended.
Permits covering sniper rifles, night sights, small arms ammunition, gun mountings, body armour, military communications equipment and "equipment employing cryptography" remained in force, it said.
The government said it was keeping all licences under review and the majority of licences that remained in place were for "commercial use".
The disclosure comes after David Cameron strongly criticised European countries such as France which are continuing to pursue defence sales to Russia despite Moscow's backing for the separatists in eastern Ukraine.
But France's Foreign Minister Laurent Fabius hit back on Monday, suggesting Britain should look at the number of Russian oligarchs in London before criticising his country.
Moscow's support for pro-Russian groups in Ukraine has come under renewed scrutiny after the fatal crash of Malaysian airliner MH17 with 298 people on board, which the UK and US believes was shot down by a surface-to-air missile launched from a rebel-held area.
