North Korea Has $11 Billion of Debt to Russia, Storchak Says
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North Korea owes Russia $11 billion of debt that dates back to the Soviet period and the two countries have resumed talks to restructure the Asian state’s liabilities, Deputy Finance Minister Sergei Storchak said.
Russia hasn’t lent money to North Korea since the collapse of the Soviet Union in 1991 because the communist state hasn’t settled its debt, Storchak told reporters at a military base near Ulan-Ude, a Siberian city close to the border with Mongolia. North Korea also has yet to recognize Russia as the successor to the Soviet Union, he said.