IRAN BUYS ANOTHER RUSSIAN SUBMARINE.

Iran expects to take delivery of its third Russian-built Kilo-class submarine later this month, an Iranian spokesman announced on November 16. The deal was delayed for over a year as Iran negotiated for a barter arrangement, but Moscow successfully held out for cash. Iran’s growing naval strength has worried Western and regional leaders, who are likely to criticize this latest sale. Iran took delivery on the first two Russian subs in 1992-1993. (Xinhua, November 16)

Ukraine Wins Credit from World Bank.