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FINANCIAL NEWS
US finalizing USD10b arms deals with UAE, Saudi Arabia
21 Apr 2013
(MENAFN) US defense officials said that their country is in advanced negotiations with the UAE and Saudi Arabia over a USD10 billion arms sale, reported Arabian Business.
The UAE deal covers the delivery of 25 F-16 Desert Falcon jets worth around USD5 billion.
The officials added that the two countries will be allowed to acquire weapons with stand-off capabilities, which can be used to engage the enemy with precision at a greater distance.
The contract comes to enhance the military capabilities of chief Arab allies taking into consideration the threats in the region.
It is worth noting that the Congress had not been formally notified of the arms sale, as part of the endorsement process.
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