Iraqi Foreign Minister Hoshiyar Zebari (L) speaks with his Russian counterpart Sergei Lavrov in Moscow September 19, 2007.
Photo: Reuters
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Russia to Write $13bn Off Iraq’s Debt
Russia will make an agreement with Iraq on narrowing its debt estimated at $10 billion to $13 billion, RIA Novosti reported with reference to Iraqi embassy in Russia.
Russia and Iraq are expected to sign a bilateral financial agreement on the debt relief as well as the trading and economic cooperation memorandum and the memorandum on research and engineering interraction during the Moscow visit of Iraqi Foreign Minister Hoshiyar Zebari that is slated for February 11.
Russia’s government is trimming Iraq’s debt by 80 percent in line with the Paris Club agreements. Spokesmen of both Russia and Iraq refuted the reports linking the delay in this reduction to the cancellation of the West Kurna-2 contract for LUKOIL.
www.kommersant.com
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