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Financial Issues Restrain Russia-Cuba Military-Technical Cooperation

© Sputnik / Dmitriy Vinogradov / Go to the photo bankRussian military aviation at Khmeimim airbase in Syria
Russian military aviation at Khmeimim airbase in Syria - Sputnik International
Russia will play a crucial role in the Cuba’s defense industry enterprises` modernization.

SANTIAGO (Chile), (Sputnik) – Russia is ready to actively participate in the modernization of Cuba’s defense industry enterprises, but financial issues still hamper cooperation between the two states, the deputy head of the Russian Federal Service for Military-Technical Cooperation (FSMTC) said.

"The only factor restraining the development of cooperation is the uncertainty in the sources of funding. The search for them is ongoing," Anatoly Punchuk told RIA Novosti in an interview on the sidelines of the 19th FIDAE International Air & Space Fair in Chile.

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Havana hosted the first Russian-Cuban seminar on technological cooperation in the defense area in November 2015 that resulted in lots of addresses from the Cuban companies to Moscow, Punchuk stressed, adding that the appeals were looked into by competent Russian enterprises.

Russia and Cuba have enjoyed close cooperation since the days of the Soviet Union. In recent years, Moscow has moved to step up ties with Havana.

In December 2013, Moscow wrote off most of Havana’s Soviet-era debt, estimated at about $30 billion, and denounced the US trade embargo against Cuba.

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