Quoting: During the visit, Putin agreed to write off $32 billion in Russian debt to Cuba, leaving just over $3 billion left to pay over the next 10 years. This was a significant economic weight lifted from Havana, whose gross domestic product shrank by up to a third with the loss of direct aid and subsidies from Moscow after the Soviet Union fell. Putin and Raúl Castro also agreed to new deals in energy, health and disaster prevention and help with building a vast new seaport. Moscow is also now exploring for oil and gas in Cuban waters, right in the U.S.’s backyard. The deals were the most pronounced sign yet that the formerly estranged couple were reconciling—a process that has been under way for more than a year. Early in 2013, Russian Prime Minister Dmitry Medvedev visited and agreed to lease eight jets to Cuba. In June, as part of a “space cooperation” agreement, Cuba said it will allow Moscow to base navigation stations for its own global positioning system, called Glonass, on the island. “What Putin is doing is reestablishing the relationships that, when Russia was turning west, planning to become part of wider Europe, and giving up the legacy of the Soviet Union, were actually neglected,” says Nina Khrushcheva, an associate professor of international affairs at the New School and granddaughter of former Russian premier Nikita Khrushchev. “I think that stands at the core of his reengagement.” -EJ
Posted on: Sat, 16 Aug 2014 19:35:01 +0000
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