Russia writes off $890 million debt to Uzbekistan | Inquirer News
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Russia writes off $890 million debt to Uzbekistan

/ 08:00 AM December 11, 2014
Russian President Vladimir Putin speaks with his Uzbekistan's counterpart Islam Karimov, right, during a signing ceremony in Tashkent, Uzbekistan, Wednesday, Dec. 10, 2014. (AP Photo/RIA Novosti Kremlin, Mikhail Klimentyev, Presidential Press Service)

Russian President Vladimir Putin speaks with his Uzbekistan’s counterpart Islam Karimov, right, during a signing ceremony in Tashkent, Uzbekistan, Wednesday, Dec. 10, 2014. (AP Photo/RIA Novosti Kremlin, Mikhail Klimentyev, Presidential Press Service)

MOSCOW— Russia has written off $890 million in debts owed by Uzbekistan as part of a deal to deepen economic ties between the former Soviet nations.

The deal was part of a broad agreement signed Wednesday during a visit by Russian President Vladimir Putin to the Central Asian nation for talks that touched on trade and security.

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In an exchange published on the Kremlin website, Uzbek President Islam Karimov said Russia would play a major part in ensuring stability in the region after NATO’s pullout from Afghanistan. Uzbekistan and Afghanistan share a heavily-guarded 210-kilometer (130-mile) border marked by the Amu-Darya River.

Cancellation of the $890 million debt, which had been out-standing since the early 1990s, likely opens the way for Uzbekistan to invest in Russian weapons.

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TAGS: Debt, Islam Karimov, Russia, Uzbekistan, Vladimir Putin
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