Sanction this! Iran sues Russia over UN embargo
Iran has filed a lawsuit to the Geneva Arbitration Court to recover $4-billion in compensation from Russia for a large number of cancelled arms deals.
The case hasn’t been heard yet, though the claim demanding compensation of about $4 billion for failing to adhere to contractual commitments to arms was filed back in April 2011. The Iranian government and its Aerospace Industries Organization demanded that Russia’s state-run arms exporter, Rosoboronexport, hold up its side of a contract signed in 2007 to deliver S-300 missile systems. Iran is facing an uphill battle however, since the contract was suspended following a UN Security Council arms embargo on Iran. The embargo prompted Russia to void the S-300 deal and return $166.8 million to Iran paid for the complexes, a Russian arms exports official told Interfax on Thursday. In June 2010, the UN imposed a fourth package of sanctions on Tehran, increasing the range of prohibited weapons to missiles, missile systems, tanks, fighter helicopters, fighter jets and warships.Russia says that these fresh UN sanctions brought the S-300 deal worth some $800 million to a halt.