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Published On: Tue, Jul 11th, 2017

Russia – Saudi Arabia agree on $3.5 bln arms deal

nsnbc : Russia and Saudi Arabia, agreed on Monday, on a an arms deal worth some $3.5 billion, said Sergei Chemzov, General Director of Russian state-owned corporation Rostec.

Export of the S-300 SAM Missile System to Iran stalled an earlier Russian - Saudi deal in 2012. Courtesy of RIA Novosti, Vladislav Belogrud.

Export of the S-300 SAM Missile System to Iran stalled an earlier Russian – Saudi deal in 2012. Courtesy of RIA Novosti, Vladislav Belogrud.

Chemzov made his statement about the arms conclusion of the Russian – Saudi arms deal in an interview with the Russian State news agency TASS.

The deal will reportedly be finalized during the next visit of Saudi King Salman to the Russian Federation which is due to take place by the end of 2017.

Russia is the world’s second largest weapons exporter with total sales exceeding $15 billion annually. The Russian military-industrial complex is, besides hydrocarbons, one of the main staples of the Russian Federation’s economy.

Russia tried to broker a lucrative arms deal with Saudi Arabia in 2012, when the Gulf kingdom signed a preliminary agreement worth $20 billion, Chemezov said.

However, that deal stalled when Saudi attached stipulations contrary to Russian interests, including a demand that Russia not sell S-300 long-range surface-to-air missiles to Iran.

In an act of defiance against interference in Russia’s internal affairs and Russia’s foreign relations, President Putin removed all legal barriers to the export of the S-300 and sold the system to Iran for an estimated $1 billion.

CH/L – nsnbc 11.07.2017

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