Russia To Lose Tens Of Billions In Arms Deals With The Fall Of Gaddafi

Russian President Dmitry Medvedev (R) meets with Libyan leader Moammer Gadhafi at Meiendorf Castle outside Moscow on October 31, 2008. Gaddafi arrived in Russia on Friday for talks expected to focus on purchases of Russian arms and the possible opening of a Russian naval base in Libya to counterbalance U.S. interests in Africa. (UPI Photo/Anatoli Zhdanov)

Gaddafi Fall Cost Russia Tens Of Billions In Arms Deals -- Reuters

Russia lost tens of billions of dollars in potential revenues from arms deals with Libyan leader Muammar Gaddafi's fall, the official in charge of Russia's arms exports said on Wednesday.

Russia, the world's No. 2 arms exporter, has frequently cited losses of $4 billion (2 billion pound) in Libyan arms contracts.

"The figure of $4 billion is only nominal, the real lost revenue could top tens of billions of dollars," said Mikhail Dmitriyev, the head of Russia's Federal Service on Military and Technical Cooperation.

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My Comment: And with their past support of Gaddafi ... my gut is telling me that the new Libyan government is not going to buy 'Russian' for a very very very long time.