Russia to Write-Off Major Debt from Iraq

Russian Finance Minister Alexei Kudrin has stated that Russia expects to write off 65 percent of the $8 billion in debt Iraq owes it, excluding interest. "The Paris Club conditions will be applied in Iraq but in the Iraqi case it is 65 percent (write off), not 80 percent," Kudrin told reporters while at a conference in Florida.

Earlier Kudrin told reporters Russia would write off 80 percent of the $10.5 billion Afghanistan owes it, cutting it to some $2 billion.