MOSCOW, Sept. 29 (UPI) -- Russia withdrawing from its contract to provide Iran with its advanced S-300 anti-aircraft defense system is costing the country $1 billion.
Duma member Konstantin Kosachyov revealed the loss to the country's weapons export revenues, Russia Today reported Wednesday.
Iranian Parliament National Security and Foreign Policy Commission head Alaeddin Boroujerdi has noted that Tehran could institute legal action against Russia and seek damages if Moscow doesn't honor its contract, adding, "We hope Russia abides by its commitments."
Last week Russian President Dmitry Medvedev prohibited the sale, citing increased U.N. Security Council sanctions imposed in June over its purported covert nuclear activities.
Both Washington and Israel allege that Iran's civilian nuclear energy program in fact conceals a drive to acquire military nuclear weaponry, a charge strenuously denied by Iran, which is both a signatory to the 1970 Treaty on the Non-Proliferation of Nuclear Weapons and allowed International Atomic Energy Agency inspectors into its nuclear sites.