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Profile Committee of the Russian State Duma supported the draft law on "Ratification of the Agreement between the Governments of Russia and Mongolia on the settlement of the financial obligations of Mongolia to Russia". Russia will write off 97% of Mongolia's state debt to Russia totaling to US$174.2 million.

The explanatory note to the draft law that debt long overdue. After the ratification of the draft law, Mongolia will be obliged to pay US$3.8 to Russian within 30 days.

During the session of the State Duma, Vladimir Zhirinovsky, leader of LDPR made a speech where he highlighted that he does not understand why, of all the countries with which Mongolia has economic relations, it does not pay its debts only to Russia.

"The Mongolians were ready to repay in barter. They have 30 million sheep, which are freezing. And we don’t have sheep in Baikal region. We should’ve got in sheep. Instead the Minister for Economic development said we need foreign currency in cash. So the meat is not cash then? And you are saying you will get cash from the country which has no cash, but then you will get meat from another country with that cash,"- said Zhirinovsky.
 

Sergei Storchak, deputy Finance Minister presented the draft law on annulling Mongolia’s debt and he provided an explanation that due to the epidemiological situation in Mongolia, it’s complicated to supply meat.  

For Mongolian version please click here

Монгол эхийг унших бол энд дарна уу