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7.62 denotes the caliber of the projectile in millimeters
The next number indicates the length of the case in millimeters
The 7.62 x 51 is the NATO equivalent of the .308 cartridge
The 7.62 x 39 is the AK/SKS round
The 7.62 x 54R is the old Russiam Mossin Nagant round, still currently used in their sniper rifles.
There is a slight difference if I remember correctly, in that the Soviet rounds actually measured .311 instead of .308
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