United States to sell $15 bln THAAD missile defense to Saudi Arabia

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Crude oil prices gained as Saudi Arabia and Russian Federation, the world's biggest oil exporters, signaled continued cooperation on efforts to erode the surplus supply of crude globally.

Russian Federal Service for Military-Technical Cooperation spokeswoman Maria Vorobyova said that Moscow and Riyadh reached agreements on the supply of S-400 anti-aircraft missile systems, as well as Kornet-EM anti-tank missile systems, TOS-1A "Buratino" heavy flame systems, AGS-30 grenade launchers and Kalashnikov AK-103 assault rifles.

Experts say this means Riyadh, traditionally a U.S. customer, is looking for military hardware alternatives. "The contacts over implementing this deal have been very positive and achieved a very good preliminary result", Peskov said.

The Pentagon's Defense Security Cooperation Agency said in an October 6 statement that it had notified the U.S. Congress about the possible sale, saying the deal would "support the foreign policy and national security objectives of the United States".

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The announcement came a day after Saudi Arabia agreed to buy air defense systems from Russian Federation.

Despite increasing coverage over Saudi Arabia's involvement in the September 11, 2001 attacks, the two countries share an interest over Iran's ballistic missile program in the Middle East.

Last week, Australia said it will outfit its new naval warships with Lockheed's Aegis air-defense system, which is also used by the USA and Japan and would help the three navies coordinate on missile-defense missions.

A interceptor missile is launched from a THAAD battery in this Defense Department photo. Boeing slipped 0.1%, and also remains in buying territory, while Raytheon added 0.1% to edge closer to profit-taking sell territory.

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