ISTANBUL : Turkey pays in rubles or lira, moderately than bucks, for its primary order of Russian S-400 missile defence systems that has Ankara's Western allies, President Recep Tayyip Erdogan said on Thursday.
Erdogan said the final forex composition had yet to be agreed however showed he expected the deliveries of the systems to take place in 2019.
His feedback got here an afternoon after Putin said that Russia was cutting its dependency on bucks in global industry due to more and more tough US sanctions.
Turkey is also having a look to do the same after the lira plunged in value on monetary markets over the summer season, even if it has recovered within the remaining month.
"We always had this principle -- that we would do this deal using local money," Erdogan instructed reporters in Istanbul prior to leaving for the G20 summit in Argentina the place he's expected to carry talks with Russian President Vladimir Putin.
"So in the end we agreed that it would either be in rubles or Turkish lira," he said.
But he added: "But I know that the work of our central banks has still not reached the final point. We have around a year to go. God willing, these deliveries will be made towards the end of 2019."
Putin said on Wednesday that while "it isn't our goal to desert the dollar... the dollar is deserting us."
Putin noted bucks didn't characteristic within the S-400 handle Turkey and Deputy Prime Minister Yuri Borisov lately said Moscow's key defence consumer India may even pay for a similar order of S-400s in rubles.
The S-400 order is noticed as one of the crucial key symbols of NATO member Turkey's flourishing relationship with Russia underneath Erdogan and Putin.
The order has raised questions amongst NATO allies over the systems' compatibility with NATO equipment and in addition the wider implications for Turkey's long term strategic orientation.
President Donald Trump in August signed a defence authorisation act that would limit the supply of F-35 stealth aircraft to Turkey if it goes ahead with the acquisition of the S-400, which is able to shoot down missiles in addition to aircraft.
According to Russian media, Turkey is buying four S-400 systems in a freelance value a complete of USD 2.5 billion.
Erdogan said the final forex composition had yet to be agreed however showed he expected the deliveries of the systems to take place in 2019.
His feedback got here an afternoon after Putin said that Russia was cutting its dependency on bucks in global industry due to more and more tough US sanctions.
Turkey is also having a look to do the same after the lira plunged in value on monetary markets over the summer season, even if it has recovered within the remaining month.
"We always had this principle -- that we would do this deal using local money," Erdogan instructed reporters in Istanbul prior to leaving for the G20 summit in Argentina the place he's expected to carry talks with Russian President Vladimir Putin.
"So in the end we agreed that it would either be in rubles or Turkish lira," he said.
But he added: "But I know that the work of our central banks has still not reached the final point. We have around a year to go. God willing, these deliveries will be made towards the end of 2019."
Putin said on Wednesday that while "it isn't our goal to desert the dollar... the dollar is deserting us."
Putin noted bucks didn't characteristic within the S-400 handle Turkey and Deputy Prime Minister Yuri Borisov lately said Moscow's key defence consumer India may even pay for a similar order of S-400s in rubles.
The S-400 order is noticed as one of the crucial key symbols of NATO member Turkey's flourishing relationship with Russia underneath Erdogan and Putin.
The order has raised questions amongst NATO allies over the systems' compatibility with NATO equipment and in addition the wider implications for Turkey's long term strategic orientation.
President Donald Trump in August signed a defence authorisation act that would limit the supply of F-35 stealth aircraft to Turkey if it goes ahead with the acquisition of the S-400, which is able to shoot down missiles in addition to aircraft.
According to Russian media, Turkey is buying four S-400 systems in a freelance value a complete of USD 2.5 billion.
Turkey to pay for Russian S-400s in rubles or lira: Erdogan
![Turkey to pay for Russian S-400s in rubles or lira: Erdogan]()
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November 29, 2018
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