The President of Russia Vladimir Putin sent to the Chairman of the Council of State and Council of Ministers of Cuba Raul Castro a telegram of condolences in connection
with the death of the leader of the Cuban revolution Fidel Castro, said on Saturday
the press service of the Kremlin. The Russian leader, in 2014 write off 90% of the debt of Cuba to the USSR, called Fidel “a sincere and reliable friend of Russia.”

In his telegram, Putin said: “I Express you and all the Cuban people the deepest
condolences in connection with death of the leader of the Cuban revolution, your
brother of Fidel Castro. The name of this distinguished statesman at the
considered to be the symbol of an era in recent world history.
Built by him and his companions a free and independent Cuba became
an influential member of the international community was inspiring
an example for many countries and peoples… Fidel Castro was sincere and reliable friend of Russia. He made an enormous personal contribution to formation and development of Russian-Cuban
relationships, close strategic cooperation in all fields. This
the strong and the wise man always was looking with confidence into the future. It
embodied the high ideals of politics, citizen and patriot, sincerely
convinced in the rightness of the cause to which he devoted all his life”.

In March 2014, before the visit to Havana, Putin signed a law ratifying the agreement to write off $ 32 billion of Cuba’s debt to Russia. The payments on the balance owed shall be credited to a special account opened in US dollars to Vnesheconombank in the National Bank of Cuba and used to Finance investment projects on Liberty Island. Cuban debts written off and many other creditor countries, however, it was a much more modest amounts.

Cuba stopped paying its debt to the Soviet in the late 80s and recognize them refused, because the Soviet Union fell, did not comply with many potentially beneficial for Havana contracts.

The experts believed that the new approach will contribute to enhancing the relations, for example, will help Russian oil companies to get contracts to search for oil fields on the shelf of Cuba.

In December 2014, President Barack Obama announced the change of policy towards Cuba: sanctions policy was declared a failure, and States began to restore diplomatic dialogue and economic ties with the island.

Write off Cuba’s $ 32 billion debt Putin has called Castro “a sincere and reliable friend” 26.11.2016

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