India and Russia signed a $5.4 billion S-400 Triumf surface-to-air missile deal on Friday during an annual bilateral meet in New Delhi, Kremlin Spokesman Dmitriy Peskov stated.
"Yes, on the summit's sidelines," Peskov told Sputnik, when asked a relevant question.
Russian state arms exporter Rosoboronexport Director-General Alexander Mikheev specified later in the day that to implement the contract on supplies of S-400 on the same day.
The delivery of the five advanced S-400 Triumf squadrons will begin in October 2020. The deal has been signed despite the looming threat of US financial sanctions.
In mid-July, Indian Defense Minister Nirmala Sitharaman said that Delhi and Moscow had reached the final stage in talks on the deliveries of S-400.
India earlier made it clear that US sanctions would not deter it from making crucial purchases from Russia. On July 13, during a media interaction, Indian Defense Minister Nirmala Sitharaman termed CAATSA as an American law and not a UN law and said that India would go ahead with the S-400 Triumph air defense missile systems deal.
The S-400 Triumf system is a next-generation mobile air defense system, which is capable of destroying aerial targets at an extremely long range of up to 400 kilometers (almost 250 miles).