Monday, February 8, 2010

Libya orders arms worth $1.8b from Russia

Libya has signed an arms deal with Russia worth $1.8 billion. Russian Information Agency, RIA Novosti, on Saturday quoted Prime Minister Vladimir Putin as saying, "Only yesterday (Friday) we signed a contract worth 1.3 billion euros ($1.8 billion) with the Libyan government, and it's not only for small arms."
Libya map
The weapons Libya is intending to purchase are not specified in the statement but a military-diplomatic source quoted by Reuters says Libya has ordered some 20 fighter planes and S-300PMU2 air defence systems, according to Reuters.

The source also says that Libya may acquire T-90S tanks, and modernize more than 140 T-72 tanks and other weapons.

The deal was signed after talks with Libyan defence minister, Major General Abu-Bakr Yunis Jabr, last week in Moscow.

It comes days after the Libyan Investment Authority bought enormous shares in the Hong Kong IPO of UC RUSAL, the world's biggest aluminium producer.

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