Russia has paid off its debt to the Soviet Union.

Russia has just paid off its last foreign debt left over from the Soviet era.

News agencyRTThe Russian Federation was saddled with the debt after former Soviet states refused to repay it, the report said.

According to news agencyRT, The Russian Finance Ministry announced on August 22 that the debt to Bosnia and Herzegovina of 125.2 million USD has been settled according to an agreement between the government of the Russian Federation and the Council of Ministers of Bosnia and Herzegovina.

The debt is the amount of money that the Soviet Union owed to the former Yugoslav government, when both regimes existed in international relations. After the dissolution of the Soviet Union, Russia became the “heir” to all the foreign debts of the former regime. Initially, with the agreement that the Soviet Union’s foreign debt would be paid by all the Soviet Republics, the relevant document was signed in December 1991.

President Vladimir Putin.

However, Estonia, Latvia, Lithuania, Azerbaijan, Moldova, Turkmenistan and Uzbekistan later refused to sign the agreement. Therefore, in 1994, Russia agreed to "take" all of the above debts in exchange for the right to inherit assets from the Soviet countries, according toRT. That year, the Soviet Union's debt was nearly 105 billion USD, of which the largest debt was the debt to the Paris Club, with an amount of more than 47 billion USD. The Paris Club consisted of 19 creditors, mainly in the West, including the US and UK.

Under President Vladimir Putin, Moscow has also written off a large amount of debt from developing countries. In 2014, Russia wrote off more than $30 billion in debt from Cuba. Russia has also written off debt from Iraq ($21.5 billion), Mongolia ($11.1 billion), Afghanistan ($11 billion) and North Korea ($10 billion), along with $20 billion from African countries. In total, Russia has written off more than $100 billion in debt over the past decade./.

According to Dan Tri