Sanctions-busting ‘Financial Arrangements’ Helped Rosoboronexport Complete S-400 Turkey Deal

  • Our Bureau
  • 09:45 AM, November 1, 2019
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Sanctions-busting ‘Financial Arrangements’ Helped Rosoboronexport Complete S-400 Turkey Deal
SWIFT illustration

Russia introduced new financial arrangements in 2019 to receive payments for arms sales that helped it get around United States sanctions against its defence and financial sector.

“Despite sanctions, we have completed supplies of all the components of the S-400 Air Defence Missile Systems to Turkey ahead of time, created and launched the first world’s joint venture on production of the Kalashnikov assault rifles of the “two hundredth” series in India,” said Rosoboronexport’s Director General Alexander Mikheev today.

So far this year Rosoboronexport haa already managed to supply its products to 43 countries to the amount of 11 billion dollars, signed over 800 contracts for future deliveries.

“Simultaneously, the portfolio of orders of the company keeps at the level of nearly 50 billion dollars, which guarantees the load for Russian defence industry enterprises for several years ahead,” Alexander Mikheev said in a Rosoboronexport statement.

Russia has introduced an alternative to SWIFT the US-controlled global financial messaging system to receive payment for its arms sales in national currencies.

US sanctions, particularly the Countering American Adversaries through Sanctions Act (CAATSA) have proved a damp squib as despite several threats from the US State Department, Turkey, India and other recipients of Russian weapons have gone ahead with arms deals with Moscow.