One of the largest arms contracts in the Ukraine’s history – on delivery of air-to-air missiles to India – is being finalized, Nezavisimaya Gazeta reports.

As reported by Russian sources, this refers to selling a large batch of R-27 missiles produced by Artem Holding Company (Ukraine). These missiles are installed on Su-27, Su-30 and MiG-29 aircraft delivered to India by Russian Federation.

There is no official information regarding signing of this contract (the contract’s value is assessed at hundreds million dollar). ManagementofArtemdeniedanycomments. A source close to the National Security and Defense Council noted that the contract will be signed only after its approval by the government.

Experts say that the complicated approval procedure may have been used in order to avoid deterioration in relations with Russia (India is the traditional arms market for Russia).