Armenia doesn't rule out new military loan deal with Russia

Armenia doesn't rule out new military loan deal with Russia

PanARMENIAN.Net - Armenia could get a new loan from Russia after the implementation of the current agreement for $100 million, Defense Minister David Tonoyan told RIA Novosti during the IDEX-2019 arms expo, Kommersant reports.

While confirming that such a loan is possible, Tonoyan nevertheless said it’s too early to talk about a specific weapons nomenclature.

The minister also said Armenia plans to receive four Russian Su-30SM fighters at the end of 2019 and the beginning of 2020, and that Yerevan would like to purchase 12 such aircraft in total.

"We are continuing negotiations on the supply of the next batch of Su-30SM," Tonoyan was quoted as saying.

"Everything depends on how quickly a given product can be built - there are issues of import substitution and other problems. We plan to get the first batch this year or, at the very least, at the beginning of the next year."

In November 2017, the Armenian government approved an agreement on a $100 million Russian loan to finance deliveries of defense products from Russia. Under the agreement, the loan issued at a three present interest rate is to be used in 2018-2022.

As reported earlier, the Armenian Armed Forces have received all the weapons and ammunition envisioned under a $200 loan agreement with Russia, signed in June 2015.

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