MOSCOW, June 18 (RIA Novosti) -- The upper house of the Russian parliament ratified on Wednesday an intergovernmental agreement with Syria on settling the country's $3.6 billion Soviet-era debt to Russia.
In 2005, Russia agreed to write off 73% of Syria's Soviet-era debt amounting to around $14.5 billion, and to reschedule repayment of the remainder.
The debt is for Soviet-era weapon supplies to Damascus.
Under an intergovernmental agreement reached with Russia, Syria has to repay $1.5 billion in convertible currency over a period of 10 years and $2.1 billion in Syrian pounds, which is expected to be used to fund the implementation of joint projects.