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. Last Updated: 07/27/2016

Russia to Deal Arms for Debt

HELSINKI -- Russian Prime Minister Viktor Chernomyrdin visited Helsinki for the signing of economic agreements, including a deal to pay Moscow's 1 billion markkaa ($208 million) debt to Finland by delivering Russian weapons.

The contract includes Russian anti-aircraft guns and arms for infantry regiments, as well as spare parts for weapons, Finnish Defense Ministry officials said.

"We are prepared to continue this kind of cooperation in the future, because it is a very interesting field," Chernomyrdin told reporters after the signing ceremony on Saturday.

Non-aligned Finland bought large amounts of weapons from the Soviet Union during the Cold War.

Moscow started delivering arms to Finland in return for debt cancelation after Russia inherited a 5.5 billion markkaa ($1.1 billion) debt to Finland upon the breakup of the Soviet Union in 1991.