Russia and Egypt on verge of missile deal: Moscow

The head of Russia's state industrial holding company said on Monday that Moscow was on the verge of reaching a landmark agreement to deliver air defence systems to Egypt's army. Rostec chief Sergey Chemezov's comments came in the wake of a visit to Cairo last week by Russian Foreign Minister Sergei Lavrov and Defence Minister Sergei Shoigu devoted to military and diplomatic ties.
Chemezov told Russia's state-run RIA Novosti news agency that "some contracts (with Egypt) have already been signed - particularly one concerning air defence systems." But he later clarified in remarks to the same news agency that while the deal's framework had been agreed, the contract itself had not been signed because of questions about where Egypt was going to secure the funding. "Because of arising funding problems, the Egyptian side is still discussing these contracts," Chemezov said.