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10:32 19 July
10:27 19 July
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Russian-Turkish contract on S-400 missile systems worth $2.5 bln


The value of contract to deliver Russian S-400 air defense missile systems to Turkey stands at $2.5 billion, the head of the state corporation Rostec, Sergei Chemezov, said in an interview with the Kommersant daily, APA reports quoting TASS.

 

"Yes, the deal is [worth] $2.5 billion," he said, answering a reporter’s question.

 

He said the first deliveries of the S-400 air defense missile systems to Turkey will begin in March 2020.

 

"We plan to begin first deliveries in March 2020," he said.

 

According to the official, the finance ministries of Russia and Turkey have already completed negotiations on the issue. "The only thing left is to approve the final documents," he said.

 

"I can say that they will pay 45% of the overall contract value as an advanced payment, and 55% will be a loan from Russia," Chemezov said.

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