A Moscow arbitration court on Monday rejected a 2.58 billion ruble ($80 million) claim from artillery maker Ametex to state-controlled arms exporter Rosoboronexport.
Ametex filed the claim over ineffective financing of an arms development contract with a foreign firm in 2001. The contract was mediated and arranged by Rosoboronexport, which subsequently failed to provide timely and sufficient funding for the project.
The claim includes 1.6 billion rubles to compensate for “forgone profits,” 1 billion rubles in loans the plaintiff had to take to continue work on the project, and 120 million rubles in fines.
Rosoboronexport rejected the claim because the statute of limitations in the case had expired and because it was only an intermediary between a foreign firm and the Russian arms manufacturer.
