Erdogan: Turkey, Russia to sign final agreement on loan for S-400

By Trend:

Turkey and Russia will sign a final agreement on the allocation of a loan for the purchase of S-400 Triumph air defense systems December 29, the Turkish media quoted the country’s President Recep Tayyip Erdogan as saying.

“A Russian delegation will arrive in Turkey today to sign the agreement,” Erdogan said.

Turkey will pay a part of the cost for S-400 air defense systems through a 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 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.