France, Egypt To Sign Mistral Deal This Weekend

French Prime Minister Manuel Valls will sign a contract on the sale of two French-made Mistral warships to Egypt during his visit to Cairo on October 10-11.

Egypt emerged as France’s replacement customer for Mistrals in September 2015 after Moscow and Paris had terminated the $1.3-billion contract in August as Paris accused Moscow of alleged participation in the internal conflict in Ukraine, The French government spokesman said today.

Russia received around $1 billion in compensation for the unfulfilled deal.

"I believe he will sign [the deal]. We concluded the agreement with Egypt three weeks ago, and its has to be finalized," Stéphane Le Foll said.

Egypt's purchase of the Mistral Helicopter Carriers is said to be partly financed by certain Gulf Cooperation Council countries, though there is no offocial word from Egypt.