Egypt has reportedly struck a deal with Russia to buy $2 billion worth of military equipment. This is according to the Egypt Independent who has cited a senior official in Cairo. Saudi Arabia and the UAE have agreed to pay the price on Egypts behalf.
According to the source, Moscow and Cairo spent the past few weeks thrashing out the new arms deal, which was first tabled in November 2013 when Russian Foreign Minister Sergei Lavrov and Defense Minister Sergey Shoigu came to Cairo on an official visit.
The first batch of cutting-edge Russian weapons will be delivered by the mid-2014. The money will be paid in installments, the paper said.
Voice of Russia
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