'Russia standing by Iran's side as sanctions return'

A banner in front of Serbian parliament building in central Belgrade Serbia

A banner in front of Serbian parliament building in central Belgrade Serbia

The $5-billion deal to purchase the most sophisticated Russian aerial-defense system available on the market will be signed during Putin's visit to India, according to Kremlin aide Yuri Ushakov.

These issues, according to Putin, include the expectation of new USA sanctions against Iran and a decline in production in North Africa and Venezuela.

Asked about whether Russian Federation and Saudi Arabia would raise production to ease concerns about supply and cool oil prices, Novak said that Russian Federation has already reversed all 300,000 bpd of the cuts it had pledged in the OPEC+ deal and added another 100,000-bpd production in September.

Defence Minister Nirmala Sitharaman told reporters India was closing in on the deal to buy the air defence system from Russian Federation, with which it has long-standing military ties. One is associated with attempts to create competitive advantages for its own products using political pressure (it is known that the United States offered its Patriot systems to India instead of S-400).

Russian Federation denies any involvement in the affair, which has deepened its global isolation and led to a series of sanctions from the USA and European Union countries. With an eye on China, New Delhi and Washington have been building a closer partnership.

The CCS purportedly cleared the purchase of the five S-400 regiments on September 26, The Times of India reports paving the way for the signing of a sales contract at a summit meeting between Indian Prime Minister Narendra Modi and Russian President Vladimir Putin scheduled for October 5.

The Act primarily deals with sanctions on Russian interests such as its oil and gas industry, defence and security sector, and financial institutions, in the backdrop of its military intervention in Ukraine and its alleged meddling in the 2016 US Presidential elections.

Experts say India needs the sophisticated S-400 system to fill critical gaps in its defence capabilities, in view of China's rise and perceived threats from Pakistan, against whom India has fought three wars. The summit will conclude with the key signing of agreements, including the multi-billion-dollar S-400 "Triumf" surface-to-air missile system. Although New Delhi has diversified in recent years and the US has emerged as its second biggest source of arms, Moscow still remains an important source of weapons. The two countries are also are expected to discuss the sale of frigates and helicopters - deals that could be worth $3 billion. "Both leaders are looking at a long-term, sustained relationship and how to make progress", a source said, signalling that India will not come under pressure from the worldwide community on cutting ties with Russian Federation.

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