Putin rules out ‘ideological considerations’ in military cooperation loans

File Photo of Vladimir Putin Sitting at Desk

NOVO-OGARYOVO. April 3 (Interfax) – Russian President Vladimir Putin favors broader use of export loans and new forms of settlements in broadening military-technical cooperation with foreign states.

“In order to strengthen (military-technical) cooperation with key partners, we should pay special attention to long-term cooperation programs and broaden the use of state export loans,” Putin said at a meeting of the Commission for Military-Technical Cooperation with Foreign States on Wednesday.

“Naturally, these loans should not resemble the ones the USSR used to grant for non-market, ideological considerations and that were never seen again,” the president stressed.

“We operate on market principles, and this work should be developed. That is a standard international practice, in particular, of acknowledged market economies. Modern market-based crediting helps promote our goods and create a market for future services and supplies of additional hardware and parts,” Putin said.

“Potential clients should also be drawn with new attractive and convenient forms of settlements,” he emphasized.

“It is important not just to develop services and after-sale maintenance but also to set up joint productions whenever that is necessary,” the president said.

He noted the need for “active engagement” of specialized intergovernmental commissions.