Cabinet Resolution On Settling Former Ussr's Commercial Debts To Foreign Creditors

The Russian government has issued a resolution on settling commercial debts of the former Soviet Union to foreign commercial creditors. Debts to be exchanged are those emerging as a result of making transactions with relative commitments as specified in the statement of the Russian government on re-executing of the commercial debt of the former USSR before foreign creditors. Not to be re-executed are the commitments of organisations emerging on commercial contracts for the supply of products and services concluded without relative obligations of the governments of the former USSR or the RSFSR and including a provision of payment at the expense of the organisations' own currency resources. In addition, not to be re-executed are commitments settled, or subject to settlement, on signed, or to-be-signed, agreements within the framework of the Paris and London clubs of creditors.