Saturday, 7 August 2010

Russia to lose billions over arms embargo on Iran

“This amount ($13 billion) includes deliveries under signed contracts and potential revenues from prospective projects,” international arms trade think tank head Igor Korotchenko said.

Moscow maintains that Tehran has been practicing a rearmament programme since 2001, designed to last 25 years. The $25 billion expenditure was chiefly intended for purchases from Russia.It is likely that Iran will now turn to China for supplies.

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