Egypt has agreed to buy two Mistral warships which France built for Russia before scrapping the sale over the Ukraine crisis, the French presidency said in a statement today.
President Francois Hollande and Egyptian President Abdel Fattah al-Sisi "have agreed on the principle and terms and conditions of Egypt's acquisition of the two Mistral-class vessels," the statement said.
The deal comes a little over six weeks after France and Russia reached an agreement to fully reimburse Moscow for the scrapped USD 1.3-billion deal.
The first Mistral had been due for delivery in 2014, while the second was to be delivered this year.
But as Russia and the West became embroiled in their worst standoff since the Cold War over the Ukraine crisis, France's partners said delivering the ships would undermine their efforts to isolate Moscow over its 2014 annexation of Crimea and support of separatists in eastern Ukraine.
