MOSCOW (Sputnik) – Russia and Pakistan signed an agreement to settle mutualfinancial claims and obligations on operations of the former Soviet Union,according to which Pakistan will repay the debt to Russia in the amount of$93.5 million, a Sputnik correspondent reported from the signing ceremony.
On the part of Russia, the agreement was signed by Deputy Finance MinisterSergey Storchak, on the part of Pakistan, Ambassador Qazi Khalilullah.
The debt repayment will reportedly enable Russia to invest about $8 billionin different sectors in Pakistan, including, first of all, the energy andsteel industry.
[image: India’s Polar Satellite Launch Vehicle (PSLV) C38, carryingCartosat-2 and 30 other satellites, lifts off from the Satish Dhawan SpaceCentre in Sriharikota, India, June 23, 2017]linkIn the 1980s, the Soviet Union imported from Pakistan textile and otherproducts, and opened two bank accounts in the National Bank of Pakistan(NBP) for these purposes.
Due to the collapse of the Soviet Union, some Pakistani exporters remainedunpaid for their goods. In 1996, the Sindh High Court limited fundtransfers from the NPB’s Russian bank accounts.
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Earlier in June, Russia and Pakistan signed a memorandum of understandingon constructing the North-South gas pipeline by 2020. The pipeline, withinvestments worth of $3 billion, is planned to connect Iran, Pakistan andIndia.
Last year, Moscow and Islamabad also voiced negotiatinglinkonpossible participation of Russian corporations in the projects forconstruction of Turkmenistan-Afghanistan-Pakistan-India Pipeline.
