02:17 GMT +325 June 2019
Listen Live
    Russian Finance Ministry

    Russia Pays Soviet Union's Last Unsettled Foreign Debt - Finance Ministry

    © Sputnik / Sergei Pyatakov
    Business
    Get short URL
    3260

    Russia has paid its final Soviet-era debt of $125.2 million, which was owed to Bosnia and Herzegovina.

    MOSCOW (Sputnik) – Moscow has paid its final Soviet-era outstanding debt of $125.2 million, which was owed to Bosnia and Herzegovina, the Russian Finance Ministry said in a statement Monday.

    "On August 8, 2017, Russia paid off the debt to Bosnia and Herzegovina in a single payment. Bosnia and Herzegovina is the last foreign creditor state providing loans to the former USSR or Russia debts to which remained unsettled," the statement said.

    Russia’s foreign debt to Sarajevo was a result of Moscow’s recognition of the Bosnian share of the former Soviet Union’s debt resulting from trade and economic cooperation with former Yugoslavia, the document explained.

    As far as Russia’s government debt to other states is concerned, only $594.3 million due to be paid to South Korea remain outstanding, and the amount is due to be paid before the end of 2025, the statement added.

    Soviet foreign debt, including interest payments, amounted to $104.5 billion at the time of the Soviet Union's dissolution, according to Russian Central Bank data from 1994.

    Related:

    'Granny Gang' of Geriatric Debt Collectors Sentenced to Prison Time
    Caracas, Moscow May Reach Deal on Venezuela $1Bln Debt in September
    High Household Debt, Weak Incomes Hurt US Mortgage Lenders
    Tags:
    debt, Russian Finance Ministry, Bosnia and Herzegovina, USSR, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik