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Sunday, September 25, 2011

Russian company returns prepayment to Iran for S-300

S-300 PMURosoboronexport has turned out in a biggest financial loss over the last four years after returning a $167 million in prepayment to Iran for unfulfilled supply of S-300 air defense missile systems, Rosoboronexport Head Anatoliy Isaikin said in an interview with Kommersant Daily.

"The unrealized delivery of S-300 to Iran has been the largest financial loss for our company [since the beginning of his leadership in 2007]," Isaikin said. "We owed Tehran the prepayment of $167 million."

He noted that a commitment to return the prepayment enters in contracts with any country.

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