The Russian Defence Ministry can shop for foreign military equipment if domestically produced weapons are overpriced, Russian President Dmitry Medvedev has said.

“You must purchase only high-quality hardware at transparent prices, not for the prices appealing to some companies,” he added.

The president also urged the ministry to make every contract as transparent as possible and to speed up the signing of military contracts, according to RIA Novosti.

The Defense Ministry previously said that it was ready to pay full in advance to military hardware and weapons enterprises and to purchase military products from manufacturers, providing a 25%-plus profitability.

The ministry had failed to conclude contracts worth around R108bn ($3.85bn) equivalent to 18% of the total 2011 state defence order, approved in the amount of R581.5bn ($20.7bn), due to high prices for military products.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.