Yuzhnoye design office claims Brazil’s contract termination causes $800 million in losses

18.07.2016 16:15 418

Losses bourn by Ukraine because of the unilateral termination of the Cyclone-4 contract by Brazil can reach about $800 million, the press service of Yuzhnoye State Design Office has told Ukrinform.

"According to preliminary estimates, Yuzhnoye Design Office state-owned enterprise Ukrainian losses could amount to roughly $800 million because of the unilateral contract termination by Brazil," the report has stated.

The enterprise officials note that on 16 July of last year, the Ambassador of Ukraine to the Federal Republic of Brazil had received a note released by the Ministry of Foreign Affairs of Brazil on termination of international agreement on long-term cooperation on use of the Cyclone-4 rocket launcher at the Alcantara Launch Center.


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