Hollande says France suffers no loss on Egypt warship sale

Reuters , Wednesday 23 Sep 2015

President Francois Hollande said on Wednesday that France would suffer no loss on its sale of two Mistral warships to Egypt that had been originally destined for Russia before the imposition of EU sanctions on Moscow.

"We unwound the contract we had with Russia, on good terms, respectful of Russia and not suffering any penalty for France," Hollande told reporters on his arrival at an EU summit in Brussels.

"Yesterday, I agreed the price and conditions of this sale with (Egyptian) President (Abdel Fattah El-Sisi) and so France will ensure the delivery of these ships without losing anything, while helping protect Egypt."

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