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Russia Repays Soviet Debts to Czech Republic, Finland and Montenegro

Russia has completed the repayment of the Soviet Union's debt of roughly $3.7 billion to the Czech Republic, Finland and Montenegro, the Finance Ministry said Monday.

The repaid debt to the Czech Republic alone amounted to $3.6 billion. That and an $18 million debt to Montenegro were regulated by deals signed in 1994 and 2007, respectively. The debts were partially repaid by deliveries of industrial goods and partially through monetary funds.

The biggest part of Russia's debt to Finland was repaid in 2005-2006. The rest, worth some $30 million, was repaid by Russian high-tech product supplies and services in line with a 2006 deal.

Russia repaid the debts after "admitting its liability for the commitments of the former USSR that emerged as part of trade and economic cooperation with those countries in the Soviet period," the Finance Ministry said in a statement.

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