France submits proposals to terminate deal on Mistral ships with Russia

Moscow disapproves the motion since the costs and losses of Russia due to the breach of the contract are estimated at about 1.163 billion euros ($1.32 billion). Moreover, Russia does not intend to issue any re-export permit before the money is returned, according to Kommersant.

Russia and France sealed a $1.5-billion deal for two Mistral-class ships in 2011. The handover of the first ship was slated for November 2014, but the ceremony did not take place. French President Francois Hollande put the delivery on hold, citing alleged interference by Moscow in the Ukrainian crisis.

Russia has repeatedly denied its involvement in the Ukrainian conflict, and has condemned France's failure to deliver on its contractual obligations.

On April 22, Hollande said Paris would return Moscow's payment for the warships if the contract is terminated, Kazinform refers to Trend.az.