🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Russia halts plans for Syria fighter sale - paper

Published 05/20/2009, 04:00 AM
Updated 05/20/2009, 04:16 AM

MOSCOW, May 20 (Reuters) - Russia has halted plans to sell MIG-31 fighters to Syria because of pressure from Israel, the Kommersant daily reported on Wednesday citing an unidentified source in Russia's defence industry.

Russia in 2007 agreed to supply Syria with eight MiG-31 fighters, known in the West by NATO codename Foxhound, for about $400-$500 million, the paper said.

Kommersant quoted an unidentified person close to Russia's state arms exporter as saying that Moscow had halted the contract due to pressure from Israel.

The paper quoted another source in an unidentified Russian ministry as saying that the contract had been halted because Syria could not find the money to pay for the fighters.

The MiG-31 is a supersonic, high-altitude fighter. It has a maximum speed of 3,000 km per hour (1,860 miles per hour) and a combat radius of 720 km (450 miles).

Russia's state arms exporter, Rosoboronexport, declined to comment on the report. A spokesman for the Syrian embassy in Moscow was unavailable for comment.

Russia's defence industry, which says it is starved of investment, was rattled last year when Algeria returned 15 MiG-29SMTs to Russia, saying the aircraft contained some substandard parts. (Reporting by Guy Faulconbridge; Editing by Charles Dick)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.