Search This Blog

Saturday, July 12, 2014

Russia writes off 90 percent of Cuba's debts to USSR

President of Russia Vladimir Putin has signed a law, in which 90 percent of the debt of the Republic of Cuba to the Soviet Union will be written off, the press service of the Kremlin reports.

"Putin has signed a federal law 'On the ratification of the agreement between the government of the Russian Federation and the government of the Republic of Cuba on the regulation of the arrears of the Republic of Cuba to the Russian Federation on loans, granted at the time of the former USSR,' passed by the Duma on July 4, 2014, and approved by the Federation Council on July 9, 2014," the Kremlin said in a statement. 

Earlier, the law was passed by the State Duma and approved by the Federation Council. Cuba will pay the remaining part of the debt (about $3.5 billion) over the next 10 years in equal semi-annual payments.

The first payment must be received on October 25, this year, and the last - on April 25, 2024. Payments will be entered in the dollar account of Vnesheconombank in the National Bank of Cuba.
It is supposed that these funds will be used to finance investment projects in Cuba. Earlier, Zarubezhneft and Inter RAO UES showed interest in these projects.

The Cuban debt includes project covenants that were funded from the state loans of the former USSR, and also interest from the principal debt, accumulated during the period of the loan.

No comments:

Post a Comment


1915 Armenian Genocide 21st-century Christian martyrs‎ africa al assad Al Qaeda albania anti-Morsi protests Apostles Arab Christian Arab-Orthodox Archimandrite Tikhon Shevkunov army Asia Australia bank BBC Belarusian Orthodox Church Bethlehem bible Bible movies bible translations bulgaria Bulgarian Orthodox Church Byzantine byzantine music C.I.A. Cairo China Christian Armenians christianity christians christmas Christmas Traditions Christmas tree church Conspiracy Constantinople coptic church copts cyprus daily news Documentary Easter economy Ecumenical Patriarch Ecumenical Patriarch Bartholomew I Ecumenical Patriarchate of Constantinople egypt egypt pope elder Elder Ephraim of Vatopaidi elder joseph of vatopaidi elder Paisios Elder Porphyrios english subtitles Epiphany europe food Fr Seraphim Rose france FREE books FREE Greetings Cards fyrmacedonia Georgian Orthodox Church germany greece greek greek food greek music Greek Orthodox Church Greek Orthodox Easter greek orthodoxy health and medicine Holy Fathers Holy Scripture Holy Tradition icon Internet Interview iran islam islamist israel Italy jerusalem Jesus Christ jews jihad killed libya mafia Middle East Miraculous Icon monastery money mother of god mount athos Mount Sinai Movie Trailers music muslim muslims news orthodox church Orthodox Church in America pakistan Palestine patristic tradition photo photos picture politics pope Prophecy protests quotes recipes religion romania romanian orthodox church Russia Russian Orthodox Church saint Saints science Shroud of Turin Son of God spy St Nicholas of Myra syria The Mount Athos Food Evolution theotokos travel turkey tv UK Ukraine Ukrainian Orthodox Church usa Vatican vatopaidi video war Watch FREE full movie world
Related Posts Plugin for WordPress, Blogger...