In addition, the Ministry of Foreign Affairs removed parts of the public guidelines in effect before July 15, 2020, which stated that investments and loan agreements made before August 2, 2017 would not be covered by Section 232. In the FAQs #3-5 below, the Department of Foreign Affairs has specified how it intends to apply Section 232 to such investments and loan agreements. India last year signed an agreement with Russia for the purchase of the S-400 missile defense system. The US has expressed its displeasure and threatened to ban India through CAATSA. India will receive the first delivery of Russia`s S-400 missile defense system in 2021. India signed a $5.43 billion agreement with Russia for the acquisition of five S-400 systems at the 19th annual bilateral conference held in India in October 2018 in New Delhi. Previous Guidelines of the Ministry of Foreign Affairs regarding Section 232: (i) clarifies that the implementation of Section 232 is limited to Russian energy export pipeline projects for which a contract was signed on or after August 2, 2017; and (ii) indicated that investments and credit agreements concluded before 2 August 2017 would not be subject to sanctions. Only the new agreements concerning Nord Stream 2 and TurkStream (under development before 2 August 2017) were targeted. Shortly thereafter, in March 2019, India signed a US$3 billion intergovernmental agreement to bid on a second Russian Akula-class submarine for the navy for 10 years, to be delivered by 2025. For the purposes of this interpretation, a loan or credit extension is a transfer or extension of funds or loans on the basis of a repayment obligation, or any acceptance or guarantee of another`s commitment to repay an extension of funds or credits, including overdrafts, cross-currency swaps, purchases of bonds issued by the Russian government, purchases of a loan; that has been made by another person, sales of financial assets subject to a repurchase agreement, renewals or refinancings in which funds or credits are transferred or extended to a borrower or beneficiary as described in the provision, issuance of standby accretivities and the use of existing lines of credit. . . .