Putin wrote off Uzbekistan’s debt of $865 million

The Russian President Vladimir Putin (left) and the President of Uzbekistan Islam Karimov

The decree, signed by Vladimir Putin on 5 April, ratified the agreement between Russia and Uzbekistan on the settlement of mutual financial claims and liabilities, which was signed in Tashkent on 10 December 2014, the official Internet portal of legal information.

The document at the end of March was adopted by the State Duma and the Federation Council approved it.

The agreement, signed in 2014 in Tashkent, involved the refusal of Russia and Uzbekistan from mutual claims. The debt referred to in the decree of Vladimir Putin, is associated with the loans that Uzbekistan received in 1992-1993, and the interest amounted to $388 million.

Uzbekistan at the time renounces the claim to a share in the Diamond Fund of the former USSR. In addition, within one month after the entry into force Tashkent to list Moscow $25 million.

In 2014, the Russian presidential aide Yuri Ushakov told journalists that the decision to write off debt of Uzbekistan should open up opportunities for the supply of Russian military equipment under the new loans.