Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Turkey receives U.S. draft letters approving F-16 jets deal -official

Published 29/02/2024, 11:26
Updated 29/02/2024, 11:45
© Reuters.

ANKARA (Reuters) - The United States has sent Turkey draft letters of offer and acceptance regarding its request to buy Block-70 F-16 fighter jets and modernisation kits, Turkey's defence ministry spokesperson said on Thursday.

Turkey made the request in October 2021, two years after the United States kicked Turkey out of the fifth-generation F-35 fighter jet program over its procurement of a Russian missile defence system.

The U.S. administration finally agreed to conclude the delayed deal after a series of negotiations following Ankara's approval of Sweden's NATO membership bid.

U.S. President Joe Biden's administration formally informed the Congress of its intention to proceed with the $23 billion sale of the Lockheed Martin (NYSE:LMT) jets in January.

The sale was considered final earlier this month when the Congress did not block the sale within 15 days.

"Our ministry has received the draft letters of offer and acceptance sent by the U.S. for the sale of 40 new Block-70 F-16s and 79 modernisation kits and ammunition and equipment for them. (We) have started the necessary examination and evaluation," ministry spokesperson Rear Admiral Zeki Akturk told reporters.

After Turkey's review of the draft letters, officials from the two countries are expected to meet to finalise the deal.

Turkey is one of the largest operators of the F-16 jets, with its fleet made up of more than 200 older Block 30/40/50 models.

Relations between the two NATO allies have gained significant momentum on which they can capitalise, U.S. Senator Chris Murphy said last week after meeting with Turkish President Tayyip Erdogan and Foreign Minister Hakan Fidan.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.