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Russia, India Solving Problems Over Payments for Current Defense Contracts
Russia, India Solving Problems Over Payments for Current Defense Contracts
Sputnik International
There have been no payments for current defense contracts from India since April 2018, the newspaper Vedomosti reported earlier. According to the media outlet... 24.08.2018, Sputnik International
2018-08-24T09:00+0000
2018-08-24T09:00+0000
2022-08-06T12:14+0000
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Russia, India Solving Problems Over Payments for Current Defense Contracts
09:00 GMT 24.08.2018 (Updated: 12:14 GMT 06.08.2022) There have been no payments for current defense contracts from India since April 2018, the newspaper Vedomosti reported earlier. According to the media outlet, the problems had been caused by US restrictions.
Problems concerning contracts between Russia and India will be settled, the Federal Service for Military-Technical Cooperation’s (FSMTC) press service told Sputnik on Friday.
"There are certain problems related to payments for current contracts, which arose for reasons beyond our or the Indian side's control. These problems are being solved. We're finding ways to systematically resolve this issue," the press service stated.
READ MORE: Russia's Chances, Rivals in Tender on Supply of 111 Light Helicopters to India
19 August 2018, 19:58 GMT
In June, an Indian newspaper The Economic Times reported that there had been trouble with payments, caused by the US sanctions against the Russian defense industry. However, on August 2, the US Congress passed its 2019 National Defense Authorization Act, granting Delhi an exemption from the restrictions on doing business with Russia.
FSMTC Director Dmitry Shugaev, addressing cooperation between two countries, told Sputnik that Russia was hoping to sign contracts with India on the delivery of S-400 air defense systems and Project 11356 frigates in October, and in the event of this New Delhi could start receiving the air defense systems in 2020.
