Armenia will continue buying Russian weapons despite possible sanctions from the United States, the country’s deputy defense minister David Pakhchanyan has announced at a news conference today, on March 28.
Answering a question on possible US sanctions against Armenia if it continues purchasing Russian weapons, he said that “of course, sanctions make us concerned.”
“However, the issue of security is of top priority for us, and we make all our decisions based on this,” Pakhchanyan is quoted as saying by TASS.
“Armenian and Russian cooperation in this field is very fruitful. In accordance with the contract signed between the two countries, we have received weapons worth $200mn. Earlier, we agreed on starting the second stage worth $100mn,” the deputy minister said.
The contract for an export loan worth $100mn was signed on October 24, 2017. The money will be spent for Russian military products. The loan has a 3% interest rate and a term of 15 years. According to the contract, Yerevan is to use the credit money in 2018-22.
In June 2015, Russia also signed an agreement with Armenia for a state export loan worth $200mn to finance delivery of Russian munitions. In accordance with the agreement, its term is 13 years with a 3-year grace period and an interest rate of 3%.
As EADaily reported earlier, on March 29-31, during the ArmHiTec-2018 International Exhibition of Arms and Defense Technologies in Yerevan, a joint meeting of the Russian Military Industrial Commission council is expected to discuss military and economic cooperation within the Collective Security Treaty Organization.