Russia cancels Libya’s debts in exchange of contracts

Reading time 2 min.
Flag of Libya
Flag of Libya

According to BBC Russia agreed to cancel Libya’s four and a half billion dollar debt it had accumulated by buying weapons during the cold war in exchange of commercial contracts for big Russian companies. Russian companies would be concerned with issues such as, military assistance, energy and transports. In particular it has been question of a 500 km railway across Libya to be constructed.

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