Your Redemption Draws Near - John H Ogwyn - January 6, 2001

John H Ogwyn

The German Economic Minister and the Russian Minister of Economic Development and Trade met in Berlin on December 12th to discuss details of a plan to exchange Russian debt for German equity in Russian companies. The two sides have agreed in principle to swap a large share of Russia's fourteen billion dollar debt. The option they are considering is giving to Germany a significantly larger share in Russia's gigantic gas export monopoly, obtaining several billion dollars worth of stakes in Russia's enterprises would make Germany a major shareholder in Russian industry giving Berlin a stronger voice in Moscow. In addition it would further tie Berlins interests to economic and political stability in Russia, Russia already supplies about thirty five percent of Germany's gas needs. - Information Supplied By: Herbert W Armstrong Library