France submits proposals to terminate deal on Mistral ships with Russia

  15 May 2015    Read: 1020
France submits proposals to terminate deal on Mistral ships with Russia
The offers imply the return to the Russian side about 785 million euros ($865 million), which it can obtain only after the written consent of its government on the sale of the ships to any third party without any reservations, Kommersant said, citing sources in the sphere of military and technical cooperation, according to RIA Novosti.
Moscow disapproves the motion since the costs and losses of Russia due to the breach of the contract are estimated at about 1.163 billion euros ($1.32 billion). Moreover, Russia does not intend to issue any re-export permit before the money is returned, according to Kommersant.

Russia and France sealed a $1.5-billion deal for two Mistral-class ships in 2011. The handover of the first ship was slated for November 2014, but the ceremony did not take place. French President Francois Hollande put the delivery on hold, citing alleged interference by Moscow in the Ukrainian crisis.

Russia has repeatedly denied its involvement in the Ukrainian conflict, and has condemned France`s failure to deliver on its contractual obligations.

On April 22, Hollande said Paris would return Moscow`s payment for the warships if the contract is terminated.

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