MISSILE contracts surge as US exits arms treaty : study.

WASHINGTON has signed more than $1 billion in new missile contracts in the three months since announced plans to withdraw from a key  Cold War-era  arms treaty, campaigners said Thursday.

''The withdrawal from INF Treaty has fired the starting pistol on a new Cold War,'' warned Beatrice Finn, who heads the Nobel Peace Prize winning International Campaign to Abolish Nuclear Weapons [ICAN].

US President Donald Trump announced last October that his country would leave the   Intermediate-Range Nuclear Forces [INF] agreement concluded between the US and the Former Soviet Union in 1987.

Washington, which accused Russia of violating the treaty through a new missile system, began the official process of withdrawing from the pact in February.

Russian President Vladamir Putin responded by saying that  Moscow would also leave the INF treaty, which is considered the cornerstone of  global arms control.

In the three months following the October announcement, the US government ''proceeded to arrange no less that $1 billion in new missile contracts.'' according to a report by ICAN and another anti-nuclear campaign group PAX.

The report detailed over $1.1 billion in new missile contracts with six mainly US companies.

The US defence contractor Raytheon saw the biggest windfall, tallying 44 new contracts worth some $537 million.

Lockheed Martin meanwhile scooped up 36 new contracts, worth $268 million, while Boeing grabbed four new contracts totalling $245 million, the report found. [Agencies]


Post a Comment

Grace A Comment!