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Friday, October 8, 2010     GET YOUR INTELLIGENCE BRIEFING

Iran talking refund with Russia after cancellation of $1 billion S-300 deal

MOSCOW — Iran and Russia have begun talks on compensation for Moscow's cancellation of a nearly $1 billion air defense project.

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Officials said Russia has agreed to return any Iranian payments for the S-300 long-range air defense project. They said Moscow and Teheran have already submitted widely-differing figures in an effort to conclude the contract.

"We are now preparing all the necessary documents," Russian Technologies chief executive officer Sergei Chemezov said.

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The state-owned Russian Technologies played a major role in the 2007 contract to export at least five S-300PMU1 air defense systems to Iran. In September 2010, after years of Israeli and U.S. pressure, the Kremlin announced that it was suspending the S-300 contract, which called for the delivery of the first battery in April 2009.

In a briefing on Oct. 7, Chemezov provided details of the S-300 contract, Middle East Newsline reported. He said Iran has relayed a down payment of $166.8 million for the $800 million contract.

"We should return all the funds to them," Chemezov, who accompanied Russian President Dmitry Medvedev on a visit to the Republic of Cyprus, said. "Of course, they are not very pleased. We don't have a choice."

Chemezov did not say when Moscow would return the S-300 down payment to Iran. But he said it would probably not take place in 2010.

The Russian compensation figure was far less than that demanded by Iran. Officials said the Teheran regime has demanded more than $300 million for the cancellation of the S-300 contract, a figure that included penalties.

"We are under no obligation to return anything else," Chemezov said. "We are not talking about any other compensation."



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