1 Mar 2013 22:02

Russia incurs financial losses from failure to deliver S-300 to Iran - FSMTC

MOSCOW. March 1 (Interfax-AVN) - Russia has incurred multi-million dollar losses from failing to deliver the S-300 anti-aircraft missile system to Iran, Federal Military-Technical Cooperation Service Director Alexander Fomin told Ekho Moskvy radio on Friday.

"We concluded the S-300 contract. We built the system but could not supply it because of the UN sanctions. The delivery failed. We have incurred financial losses because it is impossible to sell this system now. Our losses amounted to many hundreds of millions of dollars," he said.

"That is a complex system tailor-made for client needs. The needs may differ greatly," Fomin said.