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12:40 PM, June 30, 2017
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S-400 Triumf surface-to-air missile system

Russia and Ankara have agreed on the delivery of S-400 long-range air defense missile systems but the issue of loan provision is still be finalized.

"The contract has been agreed and everything is understandable there but the issue of a loan, funds has not been settled yet," Russian Presidential Adviser for Military and Technical Cooperation Vladimir Kozhin was quoted as saying by Tass at the 8th International Maritime Defense Show in St. Petersburg.

Turkey’s officials had expressed a wish to get a loan in March this year.

“The issue is pending so far. The Ministry of Finance is conducting negotiations – as soon as an agreement is signed and the loan amount is determined, we’ll then sign a supply contract for S-400 and so on," Sergey Chemezov had said during an interview with Russia 24 news channel mid-March this year.

Turkey had first shown interest in the missile system in October last year. "As for missile defense, work is continuing. We are negotiating on S-400 not only with Russia, but with other countries that have similar systems. Russia's position on this issue now is positive," Turkish Defense Minister Fikri Isik had said in an interview with Turkey's NTV broadcaster.

In 2013 Turkey had attempted buying Chinese T-LORAMIDS air defense system from China Precision Manufacturing Import-Export Corp (CPMIEC) for $3.44 billion.

The Russian bid for the S-300 system was disqualified terming it twice more expensive. Other bidders included consortium of US companies Raytheon and Lockheed Martin, maker of the Patriot system, and the European Eurosam, maker of the SAMP-T.

After its NATO partners strongly objected, Ankara eventually abandoned the Chinese missile system procurement and decided to build on its own air defense system. NATO was against the Chinese buy as it would expose alliance information to China. Turkey had countered the argument with China willing to part with technology transfer and would eventually help Turkey in its home production.

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