Date of signing S-400 loan deal with Turkey revealed

Date of signing S-400 loan deal with Turkey revealed

Russia and Turkey will sign a loan agreement for the purchase of the S-400 anti-missile system worth $2.5 billion on December 29, the country's president Recep Tayyip Erdogan said.

Turkey will borrow the loan in Russian rubles instead of US dollars, so the debt will be less for Ankara.

"They will arrive in Ankara this Friday and the credit agreement will be signed. Such a step will be taken for the first time. We will not borrow in dollars, we will borrow in rubles. The treasury’s debt will be much less," Hurriyet Daily cited Erdogan as saying.

He said that the amount corresponds to 3% of the total debt.

Ankara and Moscow had already reached the agreement for the purchase of four batteries of S-400 surface-to-air missiles, but the deal had been waiting for the final phase, financing the purchase through a loan provided by Russia.missile system.

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