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Libya sanctions cost Russian weapons exporter 4 billion dollars

February 02, 2012, 13:02 UTC+3

State-owned weapons trading company loses some 4 billion dollars in profit because of sanctions imposed on Lybia

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MOSCOW, February 2 (Itar-Tass) — Head of Rosoboronexport state-owned weapons trading company Anatoly Isaikin stated that the company's lost profit, which resulted from sanctions imposed on Lybia, amounting to some four billion dollars.

"We had contracts /with Libya/ worth two billion dollars, and could have concluded more for approximately the same sum. Therefore, the embargo cost us some four billion dollars," Isaikin told reporters on Thursday.

Commenting on prospects of military cooperation with Libya, Rosoboronexport official said "after embargo is lifted, we'll begin talks with the new authorities of that country, and it is only then that we'll be able to tell whether or not the earlier contacts would be executed or whether new ones would be concluded."

"We do not cherish major illusions, because the country has to build itself, yet we're planning such talks," the official said.

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