Canikli said that that the financial aspect of the contracts was the last hurdle that was overcome in meetings between the two countries
Turkey’s National Defense Minister Nurettin Canikli said on Wednesday that a deal has been reached with Russia over the purchase of two S-400 defense missile systems and four batteries.
Canikli said that that the financial aspect of the contracts was the last hurdle that was overcome in meetings between the two countries.
“Do we use credit? Or finance it ourselves? In the end we settled on covering one part with credit after negotiations,” said Canikli.
“Turkey will purchase two systems and four batteries from Russia; an agreement has been reached,” concluded Canikli.
Speaking to Russian Kommersant newspaper, Rostec CEO Sergey Chemezov had confirmed that Turkey purchased four S-400 missile batteries for $2.5 billion as he answered questions regarding the financial aspect of the prospective deal.
Chemezov said that negotiations regarding the loan Turkey will receive in order to purchase the S-400 missile batteries have been completed, according to reports.
“There’s nothing left but the approval of the latest documents that are in their final status. It will be paid partly upon signing the deal, with 45 percent to be paid in advance, and the remaining 55 percent will be covered by Russian credit,” according to Chemezov.
Chemezov also noted that Turkey is set to receive the first S-400 missile system shipment by March 2020.
Turkey had previously stated that it will purchase four S-400 missile batteries from Russia for over $2 billion, however, the exact figure had not been disclosed.
The S-400 missile system, which is the best currently in-use anywhere in the world, is capable of destroying jets and drones, in addition to shooting down ballistic and cruise missiles.
With a maximum range of 400 kilometers, the S-400 missile defense system is capable of reaching targets at a maximum altitude of 30 kilometers, and is equipped to simultaneously strike 80 different targets with two missiles each.
Upon its deployment, Turkey will become the first NATO country in possession of the S-400 missile defense system.
