Russia and Turkey are working to create an interbank payment system independent of SWIFT for the S-400 anti-air missile system deal between the two countries.
Russian President Vladimir Putin said in an economic conference Wednesday that Russia would use the new interbank payment system and not the dollar because US administration used it as a pressure tool.
“ ‘Instability in dollar payments’ is prompting ‘very many’ countries to find alternative reserve currencies and create payment systems that are independent from the dollar," Radio Free Europe quoted Putin as saying in the forum.
“Deliveries will begin toward the end of 2019 and we will have actualized our goal of purchasing using local currency,” YeniSafak reported President of Turkey, Recep Tayyip Erdoğan as saying.
The $2.5 billion contract to deliver four batteries of S-400 to the Turkish army was signed in July 2017. Turkey will pay for 45% of the contract value and the remaining 55% will be covered with loan from the Russian Finance Ministry. Turkey had planned to repay the loan within four years, repaying 15% of the loan each year.
S-400 is a Russian long-range air defense missile system designed for elimination of modern and perspective airborne threats. The export name of the missile system is “Triumph.” It can carry three types of missiles capable of destroying targets, including ballistic and cruise missiles. The system can track and engage up to 300 targets at a time and has an altitude ceiling of 27 kilometers (17 miles).
The Russian Prosecutors have detected 1,700 systemic legal violations in the work of State Space Corporation, Roscosmos during the period between 2017 and first half of 2018. "Documents on the activities conducted by the previous management of Roscosmos had been reviewed
The United Engine Corporation (UEC) has developed a more powerful engine for the Mil Mi-28NM ‘Night Hunter attack helicopter. "The safety, functionality and flight characteristics of the combat helicopter have been considerably increased by furnishing the VK-2500P engine with the upgraded automated control system," Rostec which is the holding company of UEC said in a statement quoted by TASS
Russian United Aircraft Corporation on Tuesday, handed over the first flight prototype of Il-112V light transport aircraft to the flight test station in Voronezh aviation plant. The aircraft will first undergo the so-called ground-based breaking-in procedures, which will allow the Ilyushin specialists to determine whether the plane is ready for its maiden flight, the company said in a statement Tuesday
Vietnams license build version of Russias Kh-35 anti-ship cruise missile, KCT-15 will be equipped with Russian GLONASS system. According to Roskosmos agency head Yuri Urlichich, starting in 2023, GLONASS's orbit system will provide high-precision navigation services with six new high-elliptical orbiting satellites,
Sale of Patriot missile systems by the United States (US) to Turkey would not affect the S-400 air defense missile deal between Ankara and Moscow signed in 2017, Kremlin stated. "These are unrelated processes and in this case we are implementing the accords we have with the Turkish colleagues
Russias United Shipbuilding Corporation (USC) will build two or more Ivan Gren-class large amphibious assault ships for the Russian Navy. "A decision has been made to finalize the Ivan Gren project
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