Posted on 04/19/2014 4:45:20 PM PDT by kronos77
Russia's parliament has agreed to write off about $10 billion of North Korea's Soviet-era debt, in a deal expected to facilitate the building of a gas pipeline to South Korea across the reclusive state.
The State Duma lower house in Moscow on Friday ratified a 2012 agreement to excuse the bulk of North Korea's debt.
It said the total debt stood at $10.96 billion as of September 17, 2012.
The rest of the debt - $1.09 billion - would be redeemed during the next 20 years, to be paid in equal instalments every six months.
The outstanding debt owed by North Korea will be managed by Russia's state development bank, Vnesheconombank.
Russia's deputy finance minister Sergei Storchak told Russian media that the money could be used to fund mutually beneficial projects in North Korea, including a proposed gas pipeline and a railway to South Korea.
The two Koreas remain technically at war and are separated by one of the world's most militarised frontiers.
The North's struggling communist economy is just 2 per cent of the size of South Korea's.
(Excerpt) Read more at abc.net.au ...
~Gas in South Korea is about $8 a gallon~
It is a virtually free gas comparing to Turkey or Netherlands.
Oh, by bad. Ukraine had 4th largest and 3rd most capable military but it was some 20 years ago.
On the other hand Iraq had 4th largest military and what?
Just like Saddam, the Norks mostly armed with outdated stuff and their training is probably WWII style.
Wouldn’t be a problem for Russia and ROK.
BTW, I’ve seen polls and it seems like relations between Russia and South Korea are at all times high. South Koreans seems to have the most positive perception of Russia of most countries including Russian allies.
I think they are considering a free travel between countries without visas the ways Russians agreed with Eastern Europe, Central Asia, Israel and Turkey.
For Russians South Korea might be a valuable potential ally to contain Red China, for ROK Russia might be a source of cheap gas to make economy more competitive.
SK has a fairly strong economy and good technology. America has slipped seriously in their view because of bam bam.
The NK military is big but not all that well trained or equipped. Their special forces are pretty good because they do real world stuff against SK fairly often. They have a LOT of artillery and their main target is well within range. They also have significant chemical weapons that they can deploy out to about 800km if I recall correctly.
Eventually China and Russia will hedge their bets and side with the SoKos.
Especially when the US surrenders superpower status.
Great idea! What could possibly go wrong??
FMCDH(BITS)
Why would Putin move against North Korea? Russia, China and North Korea are long time allies. This should be seen as, exactly as the other fellow mentioned, an attempt to make South Korea dependent on its enemies for their gas supply.
Stay current. Russia and China are as much an allies as Hitler and Stalin during an interwar period.
And for Norks both Russia and China are decadent capitalist enemies.
Don’t get fooled by public posture of these nations. They are smiling at each other and carry a big stick.
The only reason why Russia writes off a Nork’s debt is because there is no chance to get it ever paid.
>Everyone in the middle east HATED him.<
.
And what do you think of the “enlightened, democratically inclined” president that we replaced Saddam with?
I guess you’re not reading up on the mass slaughter of Christians taking place in Iraq. The few Christians living under Saddam were not persecuted by his regime.
You must be of the opinion that things in Iraq are better today except for the few car and suicide bombs going off here and there.
I guess YOU are believing everything you read from the media. With that, your credibility is absolute zero.
Mass slaughter in Iraq? You know nothing of the middle east if you believe that. There is no MASS slaughter of anything over there.
Our media in this country are hopelessly caught up with reporting ANYTHING evil in the middle east. It is WHAT THEY DO.
They have NEVER known anything about the middle east that wasn't put in their heads by those that hate Arabs and Muslims.
>You know nothing of the middle east if you believe that.<
.
Well, let me see: 12 years Dhahran, 3 years Ras Tanura, 2 years Jubail and 5 years Sana’a (Yemen) and 6 months Abu Dhabi.
You can match that?
I feel sorry for you, especially for those who have to live with you. May our good Lord bless you with a much, much better attitude in life.
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