Iran Demands $4 Bln From Russia Over Canceled Missile Deal

S-300 air defense missile system

Iran’s Defense Ministry and The Aerospace Industries Organization have launched a $4 bln law suit against Russia’s state arms corporation Rosoboronexport in an international court in Geneva over a deal to buy missiles suspended by Russia, Rosoboronexport said in its annual report.
“The case was started on April 13, 2011. The subject of the case is “Possible damages of $3,985,159,773.32 to fulfil obligations for delivery of special property,” the report says in reference to ongoing legal cases.
The case has not yet been heard, the report says.
In June 2010, the UN Security Council passed a resolution imposing sanctions on Iran, including suspension of arms deliveries. Russia responded by saying it would cancel a contract to deliver S-300 missiles to Iran, and subsequently returned a $166.8 million deposit.
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