Libya, Russia agree $1.8 billion arms deal: Putin

Reuters (Link) - Vladimir Soldatkin (January 30, 2010)

Libya has signed an arms deal with Russia worth 1.3 billion euros ($1.8 billion), Russian Prime Minister Vladimir Putin was quoted as saying on Saturday.

�Only yesterday we signed a contract worth 1.3 billion euros,� Putin said, according to RIA Novosti.

�And it�s not only small arms,� he added, without specifying which weapons Libya intended to purchase.

Interfax news agency quoted a military-diplomatic source as saying Libya was prepared to buy around 20 fighter planes and S-300PMU2 air defense systems.

The agency said on Tuesday that Libya also may acquire T-90S tanks, and modernize more than 140 T-72 tanks and other weapons.

The deal was signed after talks with Libyan defense minister, Major General Abu-Bakr Yunis Jabr, earlier this week in Moscow.

It comes days after the Libyan Investment Authority bought into the Hong Kong IPO of UC RUSAL, the world�s biggest aluminum producer.