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Moscow and Ulan Bator are discussing the possibility of ruble credit of Mongolia, said Russian Foreign Minister Sergei Lavrov after talks with his Mongolian counterpart Lundeg Purevsuren.

"Now we do not have any legal obstacles to restore our credit relations between Russia and Mongolia, and such a possibility is being discussed", - he said, replying to a question whether the issue was discussed on the allocation of ruble loan to Mongolia.

According to Lavrov, "a dialogue between the central banks on the swap operations are ongoing", reports RIA "Novosti".

"Of course, a good opportunity can be realized through the deepening of cooperation between Mongolia and the Eurasian Economic Union on the basis of the signed the memorandum last year", - said the head of the Russian Foreign Ministry.

As for the conditions of the credit co-operation and agreement on liberalization of trade, Lavrov said that "all of this is subject to approval based on finding a balance of interests."

For his part, Foreign Minister of Mongolia, said that "the ruble loan will help improve the trade imbalance."

Mongolian Minister said that two central banks are almost completed negotiations on the swap agreements.

"The issue of our country's debt to Russia is finalized, and there are new opportunities for our cooperation. There is indeed a political interest in receiving ruble credit, and I think Finance Ministry and other relevant departments shall soon start negotiations ", - he said.

In November of last year it was reported that Mongolia hopes to get a soft ruble loan of US$1 billion from Russia after finalization of its old debts to Russia. Russian President Vladimir Putin had ratified resolution to sign off US$174 m loan to be paid by Mongolia to Russia.

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Монгол эхийг унших бол энд дарж орно уу