Cyprus to purchase arms worth 240 million euros from France

Cyprus has signed a contract with France for the purchase of military equipment worth 240 million euros, the country's Defence Ministry announced on Friday, confirming recent reports in French media.

The ministry noted that due to the sensitive nature of the matter, which falls under national security, it does not intend to disclose any further information for the time being.

Air defense exercise with live fire by the Cyprus Armed Forces! (VIDEO+PHOTOS)

Just a few days ago the General Chief of Staff of the Cypriot Armed Forces took office. He didn’t wait at all and the first anti-aircraft defense exercise was ordered.

The Surface to Air Missiles (SAMs) systems used were the French-made Very Short Range Air Defense System (VSHORADS) Mistral.

Russia 'to Start Building Own Mistral Ships' in 2020

Russia will start construction of its own Mistral-class amphibious assault ships in 2020, a Defense Ministry source has told a Russian news website.

It will take three to four years for Russia to build such a vessel after Moscow renounced a EUR 1.2 B deal with France to buy two ships, Lenta.ru quotes the source as saying.

France to Carry Out Mistral Warships Contract with Russia

Two Mistral assault ships are to be sold to Russia, France's Foreign Minister Laurent Fabius announced.

The decision comes amid tensions between Moscow and the West over the Ukraine crisis.

Fabius wrote on Twitter that the contracts were agreed in 2011 and were to be executed as they would create many jobs in his country, as the BBC reported.