Russia repays $343 mln US agriculture debt ahead of time

MNB

Russia has repaid the remaining $343.25 million of its agriculture debt to the US ahead of schedule, saving $46.7 million in interest, a source in Russia’s Finance Ministry said on Friday.

“A payment worth $343.25 million has been made to clear ahead of schedule a loan that the United States granted via the Ministry of Agriculture in 1998,” the source said. The $600 million loan was issued with an 18-year term, ending in 2020, for the purchase of US agricultural produce. Earlier reports said the debt was due to be repaid from the Russian Stabilization Fund. (rian.ru)

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