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. Last Updated: 07/27/2016

Finnish Debt-for-Arms

Finland wants to acquire defense material from Russia for around 450 million markka ($80 million) as a way to reduce Russia's debt to the country, a Defense Ministry spokesman said Tuesday.

Talks will begin in Moscow next week. Russia's Finance Ministry has approved this scheme, the spokesman said. Russia's total debt to Finland amounts to around 6 billion markka.