India will fine Russia to delay sending "Vikramaditya"

India intends to impose a fine for the delay in the modernization of aircraft carrier "Vikramaditya". The issue of compensation is to be discussed at a meeting of defense ministers of Russia and India on 10 October 2012.

The exact amount of sanctions is not defined yet. It can reach up to 6 billion rupees ($ 114.4 million) - 5% of the transaction value for the repair and modernization of "Vikramaditya". The amount of the fine will be increased for each month of delay.