Moscow blocks Yugo loan due to
unpaid interest
BELGRADE - Moscow has halted further talks on use of the remaining part of a $150 million commodity loan, granted to Yugoslavia in December 1997, due to non-payment of interest, a Russian diplomat said on Friday. The loan was to help Yugoslavia's economy recover after a decade of warfare and sanctions under Slobodan Milosevic's rule. It was extended by $30 million last October, following Milosevic's fall, to secure energy imports last winter. "Non-payment of interest on the commodity loan accrued by July 15 has forced Moscow to ban any further talks with Belgrade on using the credit line," said Boris Ivanovich Medvedev, head of the economic department in Russia's Belgrade embassy. Belgrade has used $105 million of the original funds for equipment for the energy sector, Medvedev told a meeting of local businessmen. -Reuters
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