August 21, 2017 / 3:31 PM / a year ago

Russia finance ministry: Moscow owes $0.6 bln to South Korea, repaid other state debt

MOSCOW, Aug 21 (Reuters) - Russia owes $594.3 million to South Korea, having repaid all other state foreign debt, the Russian Finance Ministry said on Monday.

The ministry said it had to pay the outstanding debt to South Korea by the end of 2025. It did not provide any other details.

After the Soviet Union collapsed in 1991, Russia on took the responsibility to redeem outstanding debt to the USSR’s creditors. While defaulting on its own debt in 1998, Russia managed to start paying back Soviet foreign debt in the 2000s when prices for oil, Russia’s key export, were high.

The ministry also said on Monday it has paid back $125.2 million to Bosnia, something that Moscow had announced in March. (Reporting by Andrey Ostroukh; Editing by Alison Williams)

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