Moldova settles with Russia the issue of USSR debts once and for all

The Parliament has ratified on Friday, June 22 the Agreement between Moldova and the Russian Federation on the regulation of issues related to the former Soviet Union’s internal currency debts. The Agreement aims at definitively settling the issues related to the internal state debt of the former USSR to the legal entities which had bank accounts in USSR’s “Vnescombank” until January 1992. According to the Agreement, each party will settle by itself the claims of the entities by re-establishing the sums registered on the accounts of these persons at “Vnescombank”. According to preliminary calculations, there are USD 5 mln non-reimbursed sums on the accounts of the Moldovan legal persons at the Moscow-based “Vnescombank”. The State Registration Chamber of Moldova says that the legal persons having these accounts are not registered in the State Register and there are no concrete data on the legal successors of these persons, who could request the receipt of the funds deposited on the accounts of their predecessors. This agreement was signed by Moscow on November 27, 2006. The mutual pecuniary claims between Moldova and the Russian Federation will be considered settled as from the date when the Agreement comes into force.