Support The Moscow Times!

Russia Pays Off Last Soviet Debt

gelya07 / Pixabay

Russia’s Finance Ministry announced on Tuesday it repaid the last of the country’s Soviet-era debt when Moscow transferred $125.2 million to Bosnia and Herzegovina earlier this month.

“Bosnia and Herzegovina was the last foreign creditor state of the former USSR,” the Finance Ministry in a statement on its website, adding that Russia made a single and final payment on Aug. 8.

Russia repaid other former Yugoslav republics, Croatia, Serbia, Montenegro, Slovenia, and Macedonia between 2011 and 2016, the state-run RIA Novosti news-agency reports.

In the first half of the 1990s, former Soviet republics, with the exception of the Baltic States and Georgia, agreed that Russia would assume the debts of the former Soviet Union and in exchange those republics gave up claims to the Soviet Union’s foreign assets.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more