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Yerevan in talks with Moscow on new loan to buy Russian weapons

July 20, 2:53 UTC+3 YEREVAN

According to the Armenian finance minister, his country is having such talks only with Russia from among other countries of the Collective Security Treaty Organization

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YEREVAN, July 19. /TASS/. Armenia is in talks with Russia on a new loan to buy Russian-made weapons, Armenian Finance Minister Vardan Aramyan said on Wednesday.

"Discussion of the issue of a new defense-related loan started with Russia this year and will go along for quite a time," he said, adding that the two countries had earlier reached a top-level agreement on buying Russian-made defense-related products at Russia’s domestic prices. "As a strategic partner, Russia agreed. Negotiations are now underway," he noted.

According to the Armenian finance minister, his country is having such talks only with Russia from among other countries of the Collective Security Treaty Organization (CSTO). "We are also discussing how to avoid problems linked with the loan repayment," Aramyan said.

In his words, Armenia has not yet completely used the first export loan of 200 million U.S. dollars meant to buy Russia-made defense-related products. "We have 30 million U.S. dollars left," he said.

The two countries signed an agreement on that loan on June 25, 2015. It came into effect on February 10, 2016.

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