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Russia, Egypt ink $ 2 billion arms deal – media

News | 10.02.2014 | 11:42

Egypt has reportedly struck a deal with Russia to buy $2 billion worth of military equipment. This is according to the Egypt Independent who has cited a senior official in Cairo. Saudi Arabia and the UAE have agreed to pay the price on Egypt’s behalf.

According to the source, Moscow and Cairo spent the past few weeks thrashing out the new arms deal, which was first tabled in November 2013 when Russian Foreign Minister Sergei Lavrov and Defense Minister Sergey Shoigu came to Cairo on an official visit.

The first batch of cutting-edge Russian weapons will be delivered by the mid-2014. The money will be paid in installments, the paper said.

Voice of Russia,

Tags: Egypt Russia

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    Valentin KATASONOV

Technical Default or Death Sentence for Ukrainian Economy?

Situation in Ukraine has been leading up to this for a long time and it has finally happened. A default was formally registered on 23 September – the day that the European Committee of the International Swaps and Derivatives Association (ISDA) adopted its resolution on Ukraine confirming the country’s technical default...

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