Feb 23, 2010 — Mongolia hopes to soon put an end to a long-standing debt, contested and dating back to the Soviet era, owed to Russia. This will be a major topic during President Ts. Elbegdorj's visit to Moscow, scheduled for next month.

The official agenda for the presidential visit has not yet been made public, but sources suggest that Elbegdorj would be willing to continue negotiations on a strategic partnership between Mongolia and Russia—negotiations that last year resulted in a preliminary agreement during President Medvedev's visit to Ulaanbaatar. In December 2003, Mongolia announced it had finally settled 98 percent of the debt, originally exceeding 11 billion rubles owed to the Russian government, through a negotiated buyout payment of 250 million dollars.

Russian President Dmitry Medvedev confirmed during his 2009 state visit that Mongolia still owes a remaining portion of the Soviet-era debt to Russia. Political analysts stated last week that Russian leaders might lean toward a proposal involving an exclusive mining exploitation contract as part of a "strategic partnership," in exchange for settling the debt. Russia seeks to restore its influence in Mongolia and has committed to developing coal and uranium extraction, along with railway development projects in Mongolia.

The actual amount of the remaining debt is unclear, with disputes between the two nations, but it is estimated at approximately 150–160 million dollars. Treasury officials from both countries have held talks since Medvedev's visit to narrow down the debt issue, but the media and general public have not yet been informed about what Mongolian authorities plan to propose.

Charlène Nomadays — An SEO editor from Nomadays' earliest days, Charlène has evolved into content manager and head of the communication division, accompanying the adventure from its inception with passion and dedication. After spending seven years living across Asia—from China to Thailand, passing through Mongolia and South Korea—she has made travel a way of being in the world. A lover of words, nature, and human connection, she strives to convey in her writing a thoughtful, committed, and responsible vision of tourism. For her, each article is a bridge between curiosity, respect, and wonder.