Saudi Arabia set to curb attempts to finance terrorism

11 October, 2017, 00:30 | Author: Brenda Erickson
  • North Korea and US

"We will not let anyone spread the ideology of hatred, to finance that kind of ideology or terrorism", he said.

The Saudi Arabian Ministry of Defense signed contracts for the S-400 air defence system, the Kornet-EM system, the TOS-1A, the AGS-30, and the Kalashnikov AK-103.

In September, Turkey finalized and made a deposit on a $2.5 billion deal for the S-400, deepening tensions between Washington and Ankara.

Furthermore, the two parties are also looking into collaborating on the production of equipment for oil and gas field development, by localizing production either in Russian Federation or Saudi Arabia. "This process is very hard because Saudi Arabia has been closely connected with the United States for many years - financial, economic, political relations", political scientist Yury Pochta told Sputnik Radio.

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"This potential sale will substantially increase Saudi Arabia's capability to defend itself against the growing ballistic missile threat in the region".

"Our relations with the United States are strategic, but we also want to improve our relations with Russia, because good relations with the United States, Russia and China are in the interest of our country and for the Middle East and the whole world". The following month, Saudi Arabia's sovereign wealth fund committed to invest $10 billion in Russia over five years, the largest-ever foreign direct investment in the country according to the Russian Direct Investment Fund.

Saudi Arabia typically buys its military hardware from the US or the U.K., and the S-400 deal could signal a shift in politics as the kingdom needs Russian Federation to support oil prices. It is meant for destroying aircraft, cruise and ballistic missiles, including-medium range ones and can be used against ground targets.

The S-400 is Russia's most advanced long-range mobile air defense missile system.

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