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Saturday, January 21, 2012

Russia Denies Paying Fine on Iran Missile Contract

S-300PMU2 FavoriteRussia has returned a prepayment it received for S-300 surface-to-air missile systems it ultimately refused to deliver to Iran but has paid no penalty, Russian Technologies chief Sergei Chemezov said on Friday.

“The prepayment to the manufacturer was returned to the Iranians because the delivery was not made in accordance with a UN Security Council resolution,” he said.

Iran’s Defense Minister Ahmad Vahidi said in October Tehran was seeking compensation in international arbitration for breach of the $800 million contract.

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