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Turkey inks loan agreement with Russia to buy S-400 systems

Türkiye Materials 29 December 2017 14:14 (UTC +04:00)
Turkey signed a loan agreement with Russia to purchase the S-400 Triumph air defense systems, the Turkish media reported Dec. 29.
Turkey inks loan agreement with Russia to buy S-400 systems

Baku, Azerbaijan, Dec. 29

By Rufiz Hafizoglu – Trend:

Turkey signed a loan agreement with Russia to purchase the S-400 Triumph air defense systems, the Turkish media reported Dec. 29.

Reportedly, the sides signed the loan agreement in Turkey.

Turkey will pay a part of the cost for S-400 through the loan, Turkish National Defense Minister Nurettin Canikli said earlier.

Turkey purchased four divisions of the S-400 air defense systems from Russia, CEO of Rostec Corporation Sergey Chemezov had said. Chemezov noted that the total purchase price was $2.5 billion and the first supplies are scheduled for late 2019-early 2020.

He added that the Russian and Turkish finance ministries have completed negotiations on issuance of a Russian loan for the purchase of S-400.

"The final documents are to be approved,” he said. “The Turkish side will pay 45 percent of the total amount in advance and 55 percent through a Russian loan. The first supplies are planned for March 2020."

Earlier, Turkish President Recep Tayyip Erdogan said that Russia and Turkey are negotiating the terms of a loan for the purchase of S-400.

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