Russia loses its largest weapons buyer (Uawire)

Russia loses its largest weapons buyer (Uawire)

India, which has been the largest buyer of Russian weapons in the world market, suspended existing contracts payments to Russia’s arms exporter Rosoboronexport and refused to sign the new ones, including the purchase of fighters and S-400 missile systems. The newspaper Vedomosti reports, citing sources in the Russian defense industry, that the payments from the Indian government have not been received since April. Indian banks began blocking transactions after Rosoboronexport and most Russian defense enterprises came under the U.S. sanctions and were cut off from payments in dollars. The Indian banks are afraid of the secondary sanctions that CAATSA law envisioned a year. This law extends the sanctions regime to all involved parties, even if they do not participate in the transaction directly. Read more

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