Russian Federation and India 'set to sign $5bn S-400 missile deal'

Serbian president arrives in Moscow after Kosovo border crisis

Vladimir Putin

Russian President Vladimir Putin (2nd from L) speaks at a plenary session of the Russian Energy Week worldwide forum in Moscow on October 3, 2018. China was the first foreign buyer to seal a government-to-government deal with Russian Federation in 2014 to procure the lethal missile system and Moscow has already started delivery of an undisclosed number of the S-400 missile systems to Beijing.

India and Russian Federation have already concluded an Inter-Governmental Agreement for the choppers, 60 of which would be built in Russian Federation and the rest in India. The signing of a deal for Russia's S-400 Triumf air defence system is the key feature of the visit.

Russian President Vladimir Putin expressed a loathing for betrayal.

Only a global partnership and joint work under joint rules can ensure the progress of the world energy sector and global energy security, Putin said.

The two leaders are expected to review bilateral defence cooperation amid United States sanctions against Russian defence manufacturing.

The US has imposed sanctions on Russian Federation for its annexation of the Ukrainian peninsula of Crimea, which means any country that engages in defence or intelligence sharing with Russian Federation could also be subject to sanctions.

The US has urged its allies to forgo transactions with Russia, warning that the S-400 missile defence system that India intends to buy would be a "focus area" for it to implement punitive sanctions against a nation undertaking "significant" business deals with the Russians.

The de-dollarization of Russian Federation has been actively discussed in the country lately due to the tightening of U.S. sanctions, said VTB Bank head Andrey Kostin, Tuesday. "The value of the contract will be more than $5 billion".

India has signaled it will ask Washington for a special waiver from the sanctions to purchase the S-400 systems. Reports suggest that the issue may be taken up during the bilateral meet.

The plan will also involve strengthening co-operation for the existing Kudankulam nuclear power plant in Tamil Nadu and initiatives in third countries, the report added.

Moscow is also pushing for India's entry into the Nuclear Suppliers Group of countries controling access to nuclear technology despite atomic-armed India not signing the Nuclear Non-Proliferation Treaty (NPT).

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