Russia Repays 1.7bn Dollars To Kuwait

Russia has repaid Soviet-era debt to Kuwait of $1.72 billion, the Russian finance ministry said on Friday.

The principal debt stood at $1.1 billion, while interests amounted to $620 million, it said. The Soviet Union raised the debt in its dying days in 1991 to pay for "critical" imports, the ministry said.

Russia has yet to redeem Soviet-era debt to South Korea, Macedonia and Bosnia.

After the demise of the Soviet Union in 1991, Russia has taken up the responsibility to pay off its debts.

SOURCE : ARABIANBUSINESS

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