Russia to reimburse Iran for canceled missile deal

October 9, 2010 - 0:0

Russia announced Thursday that it would return the entire advance payment it had received from Iran for supplying the S-300 air defense system, following its cancellation by the Kremlin.

Sergei Chemezov, head of the state-controlled Russian Technologies, said Thursday that his country would repay the entire advance payment of $166.8 million.
""Of course, they are not very pleased. We do not have a choice,"" Chemezov claimed while talking to reporters in Cyprus, where he was accompanying Russian President Dmitri Medvedev.
The move comes weeks after President Medvedev issued a decree on September 22, banning the sale of S-300 air defense systems to Iran. It was claimed that the ban was part of ""measures to implement the United Nations Security Council resolution 1929 from June 9, 2010.""
(Source: RTTNews)