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Indian Air Force has sharply reduced its projected spending on procurement for FY24 as it sees delays in the supply of crucial military systems from Russia due to ongoing economic sanctions on the Banking system that has crippled the payment system for India.

IAF report also has hinted that deliveries of 2 remaining S-400 squadrons might be delayed over non-payment from the Indian side due to non-agreement between India and Russia over the mode of payment after economic sanctions.

India has received 3 S-400 squadrons out of which two squadrons have been deployed at the eastern border and one at the western border. Russian officials in past have hinted at the possibility of halting further deliveries due to payment backlog while it has maintained that it will complete deliveries by late 2023 or early 2024.

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