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Friday, October 08, 2010

Russia to return $166.8 million prepayment to Iran for S-300 missile defense system

S-300 PMURussia owes Tehran only the prepayment of $166.8 million for S-300 air defense missile systems, Rostekhnologii head Sergei Chemezov said on Thursday.

The contract to supply Iran with the missile system, one of most effective in existence, was signed at the end of 2007. Russia was to supply five divisions' worth of S-300PMU-1 for $800 million.

Russia canceled the contract to supply Tehran with S-300 air defense missile systems because of UN sanctions against the Islamic Republic.

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