Russia paid EUR 1.5bn to Paris Club Creditors in repayment of its main dent and interest. The payment was made in USD and EUR through Vnesheconombank on Feb. 17-18. According to FinMin, Russia's debt to the Paris Club was EUR 35bn as of Oct 1, 2004.
Now Russia is in the process of negotiations with the creditors to repay the debt before its maturity date. One of the options is the repayment of the credit within 3years, USD 10-15bn a year. The next round of negotiations will be held in March.
Meanwhile, several US senators say that Russia should be excluded from the G8 because of the Yukos case. These senators want to make the membership in the G8 for Russia to be dependent on whether or not it is a democratic country.
The case is lead by senators McCain and Lieberman, which wrote a document to president Bush demanding that the US plays a greater role in the Yukos case. According to them, American shareholders and particularly American pension funds have suffered greatly from the proceedings. They appealed to strategic, political and energetic security of the US. Furthermore they voiced their fears that Russia may continue harsh campaigns against specific companies or individuals.
Repression and destabilization in Russia is particularly dangerous taking into account its strategic position and nuclear arsenal. They recommend US to make an alliance with EU to put pressure on the Russian government.