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. Last Updated: 07/27/2016

Russia Seals Debt Deal With Prague

Russia reached an agreement Tuesday to settle its Soviet-era debt with the Czech Republic, Prime Minister Mikhail Kasyanov said following his talks with Czech Prime Minister Milos Zeman.

Kasyanov said that $1.1 billion will be repaid by supplying $300 million to $400 million worth of combat planes and helicopters to the Czech Republic annually for four to five years, Interfax reported

Russia also will provide $200 million worth of supplies for Czech ships and $200 million worth of nuclear fuel for Czech nuclear power stations for a period of four years, Kasyanov said.

The remainder of the debt will be repaid with supplies of various scientific instruments and other goods, Zeman said, Interfax said.

Russia inherited most of its $3.6 billion debt to the Czech Republic from the Soviet Union.