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State Duma ratifies protocol to agreement between Russia, Laos on settlement of debts

The protocol was signed in Moscow on November 23, 2023

MOSCOW, June 25. /TASS/. The Russian State Duma (lower house of the parliament) has ratified the protocol to agreement between the governments of the Russian Federation and the Lao People's Democratic Republic on settlement of the republic’s ruble-denominated debt to Russia on earlier issued loans dated December 9, 2003. The document has been submitted for the Duma’s ratification by the Russian government.

The protocol was signed in Moscow on November 23, 2023. It makes a number of changes to the agreement dated December 9, 2003 concerning the issues related to restructuring of Laos’ debt to Russia.

In particular, it suggests that the accumulated debt is paid by Laos no later than 30 days after the protocol starts to be temporarily applied; the borrower is released from payment of penalty interest if the accumulated debt is paid in due time; payments on the agreement are made in Russian rubles; the state corporation VEB.RF is the authorized agent from the Russian side.

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Military operation in Ukraine

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