Russia forgives $12.9-bln Iraq debt: report
AFP
AFP - 1 hour 51 minutes ago
MOSCOW (AFP) - Russia on Monday forgave Iraq's 12.9-billion-dollar debt, which dates back to the Soviet era, and expressed hope for a rise in investment in the war-torn country, ITAR-TASS news agency reported, quoting Finance Minister Alexei Kudrin.
The amount written off came to 93 percent of the total owed by Baghdad to Moscow, Interfax news agency reported.
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Russia and Iraq sign cooperation memorandum
Lavrov-Zibari\photo RIANRussian companies are prepared to energetically engage themselves in restoring Iraq and are looking to promising joint projects in the oil and gas and energy sectors. Russia’s Foreign Minister Sergey Lavrov said as much during his meeting with his Iraqi counterpart Hoshiyar Zibari in Moscow. Lavrov pointed out that it is extremely important for the Iraqi economy to consolidate national security and achieve a national reconciliation. Following their talks the parties signed a memorandum on trade, economic and humanitarian cooperation. They are also due to sign an agreement on Russia’s writing off Iraq’s foreign debt, which makes up from 10 billion dollars to 13 billion dollars, according to various estimates.
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