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Russia settles last part of Soviet debt

Russia completed payments of its debt under liabilities of the former USSR to Bosnia and Herzegovina, the Finance Ministry said on Monday. Bosnia and Herzegovina became the last foreign state - creditor of the USSR or Russia with unsettled liabilities.

"The debt to Bosnia and Herzegovina in the amount of $152.2 mln was settled by the agreement between the Russian Government and the Council of Ministers of Bosnia and Herzegovina on settlement of liabilities of the former USSR under settlements related to turnover between the ex-USSR and the ex-SFRY [Socialist Federal Republic of Yugoslavia - TASS] signed in Moscow on March 21, 2017 and carried into effect on July 20, 2017. Russia settled the debt to Bosnia and Herzegovina by a single money payment on August 8," the ministry said.

The state foreign debt of Russia to Bosnia and Herzegovina arose in connection with liabilities assumed by Russia on repayment of debts of the former USSR within the framework of trade and economic cooperation with ex-Yugoslavia (in portion accounted for Bosnia and Herzegovina).

Russia still has an outstanding debt to the Republic of Korea in the amount of $594.3 mln in terms of the sovereign foreign debt to official bilateral creditors. The balance of liabilities is to be repaid by 2025 in accordance with the effective bilateral intergovernmental agreement.

[Source: Itar Tass, Moscow, 21Aug17]

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