Go Back  PPRuNe Forums > PPRuNe Social > Jet Blast
Reload this Page >

Russia writes off debt.

Jet Blast Topics that don't fit the other forums. Rules of Engagement apply.

Russia writes off debt.

Old 20th Apr 2014, 08:38
  #1 (permalink)  
Thread Starter
 
Join Date: Nov 2007
Location: New Zealand
Age: 73
Posts: 508
Russia writes off debt.

Russia writes off debt.

Russia writes off 90 per cent of North Korean debt, expected to build gas pipeline.......

............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.
Russia appears to be another country prepared to try to move forward following the path of constructive and positive engagement with North Korea.
John Hill is offline  
Old 20th Apr 2014, 08:48
  #2 (permalink)  
 
Join Date: May 2001
Location: Newcastle/UK
Posts: 1,473
Hmmm, not sure those south Koreans have thought this through.
tony draper is offline  
Old 20th Apr 2014, 09:03
  #3 (permalink)  

Official PPRuNe Chaplain
 
Join Date: Apr 2001
Location: Witnesham, Suffolk
Age: 76
Posts: 3,502
When you realise NK has neither inclination nor ability to pay, you can't find a pretext to invade, and you want an outlet for your production that's losing market share in its primary market, what else do you do?

He's a shrewd rogue, that Putin.
Keef is offline  
Old 20th Apr 2014, 09:08
  #4 (permalink)  
 
Join Date: Oct 2002
Location: West Wiltshire, UK
Age: 67
Posts: 369
Russia appears to be another country prepared to try to move forward following the path of constructive and positive engagement with North Korea.
I assume there's supposed to be a "tongue-in-cheek" emoticon after this.

What is transparent here is that Russia needs to sell gas, one of its major exports. It needs the income from selling gas, and, given the return to Soviet-style government within Russia it probably also sees some political advantage in aligning itself with a state that is still run along extreme Soviet communist principals.

Writing off this massive ancient debt (which North Korea is in no position to repay, anyway) kills several birds with one stone for Putin's government. It builds a better relationship with North Korea, it allows Russia to expand its gas export business and it makes South Korea (one of the fastest growing economies in that region) dependent on both Russia and North Korea, giving Russia a very powerful political and economic lever (not dissimilar to the levers Russia uses to influence Germany and the Ukraine).
VP959 is online now  
Old 20th Apr 2014, 09:30
  #5 (permalink)  
 
Join Date: Apr 2014
Location: Melbourne
Posts: 0
I would say that this is more about Russia earning some very needed foreign currency and that it would be unlikely that North Korea could pay off it's debt in any case.

So Russia knows this and is prepared to right off the debt knowing that they will earn good money instead and not any inherent concept of helping North Korea.

How coy would it be for the South Koreans to know that someone over the border could close a valve if it suits them at any time?
Mark Cumberland is offline  
Old 20th Apr 2014, 09:55
  #6 (permalink)  
Thread Starter
 
Join Date: Nov 2007
Location: New Zealand
Age: 73
Posts: 508
I am just looking forward to the day I can buy a train ticket from Seoul to Edinburgh.

Meanwhile I dont really care what Putin's motives might be but I do know that for every country that has any relationship with North Korea the less chance there is of everything turning to custard.
John Hill is offline  
Old 20th Apr 2014, 10:06
  #7 (permalink)  
Ecce Homo! Loquitur...
 
Join Date: Jul 2000
Location: Peripatetic
Posts: 10,127
I am just looking forward to the day I can buy a train ticket from Seoul to Edinburgh.
Getting permission to build a line through such a left wing, socialist country is very hard to arrange on a commercial basis, so I wouldn't hold your breath.

North Korea might prove difficult to negotiate with as well.....
ORAC is online now  
Old 20th Apr 2014, 10:12
  #8 (permalink)  
 
Join Date: May 2001
Location: Newcastle/UK
Posts: 1,473
I would advise Ivan not to fit a stop cock in N/Korea.

Last edited by tony draper; 20th Apr 2014 at 10:41.
tony draper is offline  
Old 20th Apr 2014, 10:15
  #9 (permalink)  
Está servira para distraerle.
 
Join Date: Jan 2002
Location: In a perambulator.
Posts: 1
One suspects that the pipeline will be built with slave labour thereby adding a little piquancy to the entry of South Korea into the energetic claws of the bear.
cavortingcheetah is offline  
Old 20th Apr 2014, 10:15
  #10 (permalink)  
 
Join Date: Aug 2002
Location: Earth
Posts: 3,674
ORAC,

You may wish to Google Gyeongui Railroad Line and Dorasan Station.
mixture is offline  
Old 20th Apr 2014, 10:16
  #11 (permalink)  
Thread Starter
 
Join Date: Nov 2007
Location: New Zealand
Age: 73
Posts: 508
I can already buy a train ticket from Pyongyang to Edinburgh.
John Hill is offline  
Old 20th Apr 2014, 10:26
  #12 (permalink)  
Ecce Homo! Loquitur...
 
Join Date: Jul 2000
Location: Peripatetic
Posts: 10,127
I can already buy a ticket to the moon.
ORAC is online now  
Old 20th Apr 2014, 12:05
  #13 (permalink)  
 
Join Date: Nov 2004
Location: Perth - Western Australia
Age: 71
Posts: 1,809
If NK can't pay its outstanding, Soviet-era debt .. how is Russia expecting to get paid for all the gas it sells to NK?

Oh, hang on .. NK has all these gulags .. Russia now gets cheap labour for its factories, then .. instead of payment in hard currency.
onetrack is offline  
Old 20th Apr 2014, 12:16
  #14 (permalink)  
 
Join Date: Oct 2002
Location: West Wiltshire, UK
Age: 67
Posts: 369
If NK can't pay its outstanding, Soviet-era debt .. how is Russia expecting to get paid for all the gas it sells to NK?

Oh, hang on .. NK has all these gulags .. Russia now gets cheap labour for its factories, then .. instead of payment in hard currency.
The pipe line is feeding SOUTH Korea.............
VP959 is online now  
Old 20th Apr 2014, 13:15
  #15 (permalink)  
Resident insomniac
 
Join Date: Aug 2005
Location: N54 58 34 W02 01 21
Age: 75
Posts: 1,859
The pipe line is feeding SOUTH Korea.
That is because North Korea has no need for gas (or electricity) . . .
G-CPTN is offline  
Old 20th Apr 2014, 14:27
  #16 (permalink)  
 
Join Date: Oct 2006
Location: UK
Posts: 4,679
North Korea wont turn off the tap even if it is built. They will get commision on every cubit foot that goes though and they are not going to kill that cash cow.
It must be remembered that thoughout the Mao regime in Peoples Republic Hong Kong was, and still is, continuously supplied with water by China.
Fareastdriver is offline  
Old 20th Apr 2014, 14:44
  #17 (permalink)  
Dushan
Guest
 
Posts: n/a
Originally Posted by VP959 View Post
I assume there's supposed to be a "tongue-in-cheek" emoticon after this.
Not when John Hill talks about his idolized country and its virtues.
 
Old 20th Apr 2014, 14:47
  #18 (permalink)  
Dushan
Guest
 
Posts: n/a
Originally Posted by John Hill View Post
I am just looking forward to the day I can buy a train ticket from Seoul to Edinburgh.

Meanwhile I dont really care what Putin's motives might be but I do know that for every country that has any relationship with North Korea the less chance there is of everything turning to custard.
Why, are you afraid of flying?

As for "every country", the Soviets, err, Russians always had a good relationship with the Norks. No change here, whatsoever.

Oh, and those pesky little apostrophes. Did you lose them, again? I thought chuks gave you a whole bag full of them.

Last edited by Dushan; 20th Apr 2014 at 15:02.
 
Old 20th Apr 2014, 14:53
  #19 (permalink)  
 
Join Date: Aug 2007
Location: not scotland
Posts: 187
I thought chuks heve you a whole bag full of them.
Karma works quick around here.

Does Chuks also have a bag full of how to write correct English?

Apologies though. I just love it when someone has a little snipe at someone else about their Grammar/Spelling and, in doing so, also makes an error.
Toadstool is offline  
Old 20th Apr 2014, 15:02
  #20 (permalink)  
Dushan
Guest
 
Posts: n/a
Toad, big difference of deliberately not using the apostrophe in words like "don't" and being caught by autocorrect...

I fixed mine. Let's see what John does?
 

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.