Russia Cancels Libya's Debt For Contracts

Russia has agreed to cancel nearly three billion euros in Libyan debts from the Soviet era in exchange for large contracts for Russian companies. Russian Railways will construct a 500-kilometre line from Sirte to Benghazi for around two billion euros.

The Russian energy firm Gazprom will search for new oil and gas fields with Libya's national energy company. Russia will also deliver military equipment, such as jet fighters and helicopters to the Libyan air force.

Source: Radio Netherlands