Russia closes $7.5 billion arms deal with Algeria
Sergei Chemezov, the head of Russia’s state arms exporting agency Rosoboronexport said that the company signed $7.5 billion arms deal with Algeria. According to Chemezov, Russia will sign other contracts with Algeria worth of $2-3 billion.
During a news conference in Algeria, Rosoboronexport’s head Sergei Chemezov was reported as saying by the Russian news agencies, “We have signed arms contracts totaling $7.5 billion in the last two-three months, including on deliveries of air defense systems, combat aircraft, ships and combat vehicles. I hope we will be able to conclude new contracts worth about $2-3 billion.”
The arms deal signed between Algeria and Russia involves fighter aircraft, tanks, air defense systems and additional military equipment. According to a report by the Defense Industry Daily, the $7.5 billion arms deal signed with Algeria is post-Soviet Russia’s largest ever single arms deal and compares to annual Russian weapons exports to all customers of $5-6 billion per year over the last couple of years.
The Rosoboronexport State Corporation is the sole state intermediary agency for Russia´s exports and imports of defense–related products, technologies and services. The Corporation was set up by the Decree of President of Russian Federation and is charged with implementation of the policy of the State in the area of military-technical cooperation between Russia and foreign countries. Rosonboronexport has been cooperating with more than 60 countries during its 50-years history.
Only the Rosoboronexport State Corporation is entitled to supply to the international market the whole range of Russian armaments officially allowed for exporting. Rosoboronexport is ranked among the leading operators in the international arms market and it accounts for more than 90% of the Russia´s annual arms sales. (Source: www.alternativanew.com)