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India has concluded price negotiations with Russia for a nearly Rs. 40,000 crore deal to procure S-400 Triumf air defence missile systems for the Indian Air Force, officials said.
They said the two countries are now trying to find a way out to evade the provisions of a US law that seeks to punish countries and entities engaged in transactions with the defence or intelligence establishment of Russia.
"The negotiations for the missile deal have been concluded. The financial component has been finalised," a top official involved in the negotiations for the deal with Russia told PTI.
The official said both Russia and India are likely to announce the deal before an annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin in October.
Two other officials said both sides are now looking at ways to insulate the deal from the sanctions announced by the US against Russia under its Countering America's Adversaries Through Sanctions Act (CAATSA).
They said the two countries are now trying to find a way out to evade the provisions of a US law that seeks to punish countries and entities engaged in transactions with the defence or intelligence establishment of Russia.
"The negotiations for the missile deal have been concluded. The financial component has been finalised," a top official involved in the negotiations for the deal with Russia told PTI.
The official said both Russia and India are likely to announce the deal before an annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin in October.
Two other officials said both sides are now looking at ways to insulate the deal from the sanctions announced by the US against Russia under its Countering America's Adversaries Through Sanctions Act (CAATSA).