Turkey to pay a part of cost for Russian S-400 through loan

By  Trend

Turkey will pay a part of the cost for Russian S-400 Triumph air defense systems through a loan, the Turkish media quoted National Defense Minister Nurettin Canikli as saying on December 27.

Canikli added that the sides signed a final agreement on the supply of S-400 systems to Turkey.

Turkey purchased four divisions of the S-400 air defense systems from Russia, CEO of Rostec Corporation Sergey Chemezov said earlier.

Chemezov noted that the total purchase price was $2.5 billion and the first supplies are scheduled for late 2019-early 2020.

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

"The final documents are to be approved,” he said. “I can say that 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.