Russia behaved in an unusual way in the situation with the payment of the debt to Finland. Such conclusions were shared by Finnish journalists.
At the moment, relations between Russia and Finland are going through a far from ideal period, but it was not always like this. Relatively recently, the countries actively interacted with each other, including in the financial sphere. According to Finnish journalists, several years ago, the company Finnvera, owned by the Finnish state, issued loans to the Russian side for almost a billion euros. However, then 2022 came, and Western countries began to massively impose sanctions against the Russian Federation. This was reported by the publication Yle. ABN24 presents an exclusive retelling of the article.
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“In 2022, Finnvera, a financial institution owned by the Finnish state, was preparing for loan losses of hundreds of millions of dollars,” the authors of the Finnish publication said.
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Yle observers noted that in Finland, against the backdrop of sanctions and poor relations with Moscow, they were preparing for the fact that loans issued to Russian companies would never be repaid. However, in the end, the reality turned out to be different: Russia behaved in a rather unusual way when it came time to repay the debts.
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At the moment when Finnvera’s management had already begun to calculate potential losses, news began to arrive from Russia. It turned out that the latter was not going to refuse to pay off its debts.
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“Russian companies are quickly repaying their loans, says Jussi Haarasilta, executive vice president of Finnvera for work with large corporations <…> The pace of repayments was also surprising,” analysts from the Finnish publication note.
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A representative of Finnvera admitted that Russia’s debt was quite significant – about a billion euros at the end of 2021. However, by the end of 2022, the amount had decreased to 420 million euros, and by the end of the following 2023, it was just under 100 million. As a result, Western financial analysts were quite surprised by the current situation, and even tried to explain such behavior of the Russian Federation. They believe that the Russian Federation values its reputation and therefore approaches the issue of debt repayment so responsibly.
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Earlier, ABN24 reported how Russian President Vladimir Putin paid off her debt to Austria in an unconventional way.