09:53 GMT +325 February 2017
    President Vladimir Putin

    Putin Ratifies Law to Write Off Mongolia’s $174Mln Debt

    © Sputnik/ Mikhail Klementyev
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    President Vladimir Putin has ratified a law to write off Mongolia’s $174-million debt to Russia, according to a document published on the official Russian website for legal information on Sunday.

    MOSCOW (Sputnik) — The bill was signed in Moscow in December 2010 and took six years to go through all stages of pre-legislative scrutiny.

    Mongolia’s outstanding debt to Russia was a major hurdle for deeper investment cooperation between the two nations.

    Russian companies seek to increase their presence in Mongolia’s construction and mineral production markets. The July 2010 deal between Moscow and Ulaanbaatar cleared the way for Russian business and guaranteed $3.8 million as a one-off repayment from Mongolia.


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    • Jet fuel can't melt steel beams
      Well Putin wanted to be generous. Time to invest in Mongolia (and vice-versa)
    • Capt'nSkippy !!!
      This go to show great integrity and leadership by Putin. If it was to be owed to EU or the septic US, they would have demanded every last cent out of them, then more with interest. This would never happen with the west!!! Well done Putin!!!
    • King Arturus
      Nice move.
    • avatar
      That is the moral of true elder brother, oh, world leader.
    • siberianhusky
      Mongolia did a smart thing not getting the ZionNazie from the IMF involved. Get the IMF involved in your country finances is a guarantee the they will ruin you. Just look what they are doing in the Ukraine and Greece.
    • avatar
      Shared from sputniknews.com

      and my comment as a supplied, A, copied to you if I am wrong say so!

      Putin Ratifies Law to Write Off Mongolia’s $174Mln Debt

      I wish more people used the cancellation of debt as a form of diplomacy, What is an obstacle to one party over trade can be a godsend to another if just money exchanges hands for value. This case taking six years demonstrated it was no disinhibited fling. This must be a carefully calibrated measure to provide better conditions for both parties for a long time and here at a tiny cost for neighbour Russia for the good it may do. In Inner or Outer Mongolia if an ethnic Chinese lorry driver has an accident and kills a Mongolian (inner or outer included) it can spark riots. Britain was never popular for its gun boat diplomacy in extracting money for national treasures or undermining opium trade.A country can export or import death in so many ways a long term valued gesture of debt release is like granting freedom to a slave in Greece or Rome of olden times.
      It creates a new opportunity whilst sealing any troubles arising from a past one. I have sat listening to Councillors stating they must monetise any Council assets at best value of return thus condemning UK culture to a corporate corpulent sameness of provision, They say they have to work with the world as it is, not as we would like it be. Nope, a country with a vision can variegate its world and its neighbours by removing the yoke of slavery and generally the result will be better, for longer, than whatever the debt was. I know this to be true, in Mongolian terms, and soon the bread on the tables of Mongolians whether in City or Steppe will have new and different crumbs from a rich man's table thanks to a cancellation of a personal debt written off for the sake of having read a book, Women in Mongolia by Martha Avery and just one photo of a Mongolian woman at a well drawing water demonstrating some close or distant ambition beyond the necessities of life by wearing bouganville lipstick . I am a veteran of forwarding money to a Mongolian woman I knew years ago and never thinking to count the cost of writing it off. It is not love, really, more like Tennyson and "I shot an arrow into the air". Romantic mush it may be but I can't take it with me and it is about time more people put bread on the table of others who have none. Establishing patterns of distribution seems sensible:
      My Uncle was taken into a bread factory after the night shift had left in the 40's abroad at night . When the lights were turned on the sense of movement on all of the tables where the bread was cooling was seen as a black mass of cockroaches moving to escape. Every night this happened but few would pass on the finding I reveal here. The sharing of bread is still more important than the lacksadaisical wastage or losses in this example from poor practices. Such as a lifeline can be ramped up in the case of famine or war to avoid forever using a lack of food as a weapon of war. You can divert a country's experiences for a while if you are skilful, but the secret is to know how to match human need with clever efficient provision, something the mill owner's knew all too well as to the debt they carried or owed to their landowner or riparian Lord. Just remember this when relieving someone of their debt, the money thus released is not for the donor.Putin would do well to remember the Old German poem, "The Mill will never grind with the water the has passed." www.msbnews.co.uk/archives/MSN10(A).pdf
      We need to get what is needed on our tables and clear from it the burdens of those that bought us together.

      Not a Facebook chum so please do what you can with this?

      Tim Baber Avon View Stubbings Meadow RINGWOOD BH24 1EB
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