Rosoboronexport Signs US$302 Million Contracts at Army 2018, to Move Away from US Currency

  • Our Bureau
  • 09:44 AM, August 28, 2018
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Rosoboronexport Signs US$302 Million Contracts at Army 2018, to Move Away from US Currency
Rosoboronexport event display

Rosoboronexport has signed 15 contracts with foreign customers of Russian military equipment at the Army 2018 event in Kubinka, Moscow region last week while vowing to move away from US dollar payments to overcome sanctions.

“The sum of the export contracts signed by Rosoboronexport exceeded 20.3 billion rubles (US$302 Mn). This relates to modern land forces’ military equipment, unmanned aerial vehicles, electronic warfare systems, close combat weapons and much more. The Company's portfolio has been replenished with firm orders from Asian and African countries, as well as from member states of the Commonwealth of Independent States,” said Alexander Mikheev, Director General of Rosoboronexport.

Referring to sanctions imposed by the United States on Russian defence entities, Mikheev said, “the sanctions have the effect of a boomerang.We are consistently moving away from the US dollar in mutual settlements in favor of national currencies, especially since Rosoboronexport has accumulated a lot of experience of successful cooperation in various foreign economic circumstances,” the head of Rosoboronexport stressed.

Several agreements on cooperation between Rosoboronexport and Russian actors in military-technical cooperation were also signed at the forum.

The documents signed at the forum seal the accords reached with foreign partners on export deliveries of final Russian military hardware and its after-sales service, repair and modernization.

Rosoboronexport conducted negotiations and consultations with delegations from 45 countries of the Asia-Pacific region, the Middle East, Africa, Latin America and Europe during the first days of the Army 2018 forum.

Rosoboronexport specialists carried out presentations and demonstrations of over 150 pieces of modern Russian weaponry and military equipment exported by the Company. Despite ongoing anti-Russian propaganda, The company held a series of successful negotiations with delegations from a number of European countries which visited the Army forum.

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