Deputy PM: Russia Signs S-400 Deal with India in Rubles

"The contract has been signed in rubles," Borisov was quoted by TASS as saying.

Earlier reports said Russia would switch to settlements in national currencies instead of the dollar with its partners in military and technical cooperation.

The contract for the delivery of S-400 Triumf anti-aircraft system to India was signed during Russian President Vladimir Putin’s visit to India earlier this month. Earlier, Kremlin Aide Yuri Ushakov said that as a result of the deal India would obtain "an advanced air defense system boasting parameters superior to those of other countries’ similar systems."

Under the contract New Delhi will get five regimental sets of S-400s for $5 billion. The first supplies will be carried out within two years.

Russia’s S-400 Triumph (NATO reporting name: SA-21 Growler) is the latest long-range anti-aircraft missile system that went into service in 2007. It is designed to destroy aircraft, cruise and ballistic missiles, and can also be used against ground installations. The S-400 can engage targets at a distance of up to 600 km, hit targets at a distance of 400 km and at an altitude of up to 30 km.

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