On Tuesday, October 2, a senior Kremlin official said that India-Russia will sign the agreement on S-400 missile system deal during Russian President Vladimir Putin’s visit to India.
Russian President will visit India for India-Russia annual meet from October 5-6 in New Delhi, where he will meet Prime Minister of India Narendra Modi and both leaders will have discussions on regional and bilateral matters.
Senior kremlin official Yuri Ushakov told reporters, “The President is leaving for India on October 4… The key features of this visit will be the signing of the agreement to deliver S-400 air defence system”. He said, “The value of contract will be more than $5 billion”.
The United States has warned India against a planned purchase of S-400 surface-to-air missiles from Russia when President Vladimir Putin’s visits New Delhi this week.#S400 #IndiaRussiahttps://t.co/MtRmLQEbwf pic.twitter.com/AnIvAk6EnU
— ET Defence (@ETDefence) October 3, 2018
New Delhi and Moscow are in process to finalize the S-400 deal since 2016. Recently defence minister of India said that India is in final stage of negotiations and may finalize the deal during the India visit of President Putin in October.
US threatened India of sanctions under CAATSA on S-400 air defence missile system from Russia as it is a significant military transaction. As per CAATSA any country that shares Russian military and intelligence capabilities and have significant transactions with Russia will be sanctioned.
India has asked for relief in sanctions from US for S-400 deal but in the month of August a senior US official said that US may go ahead with sanction, if India buys S-400 missile system.
S-400 missile system is one of the best existing Air Defence Missile System in the world and New Delhi wanted this system to fill the gap in its security from any incoming hostile aircraft, missile or drone.
S- 400 missile system can detect and destroy multiple targets upto a range of 400 kilometers at a time.
India Russia may adopt Rupee-Ruble transaction mechanism if US sanctions India for the deal and bars Indian banks to access the US financial system for payments.
Apart from India, Turkey, Qatar and Saudi Arabia are also in talks with Russia for S-400 missile system purchase, where Russia has already started delivery of unknown number of S-400 missile systems to China.