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Russia to Pay Debt to S. Korea for 19 Years
Russia will set to paying off the debt to South Korea in June; the amount is $1.33 billion, AFP reported with reference to an official from finance and economy ministry of South Korea.
Clearing the debt may take up to 19 years. Russia will annually transfer $70 million under agreements of 2003. When interviewed by AFP, the South Korean official hoped Moscow will execute its commitments under the agreement signed four years ago, though it has never mentioned the settlement so far.
Seoul loaned to Moscow $1.47 billion in 1991. Given the interest, the debt widened to $2.24 billion by 2003. South Korea agreed to write off $660 million and accept weapons, ammunition and raw as part of the settlement.
www.kommersant.com
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