Iceland with natural resource guarantee to Russia
Head of the Icelandic Central Bank is reported to have given Russian authorities guarantees in fishery resources, tourism, aluminium industry and the energy sector in return for a 4 billion EUR loan.
Central Bank chairman David Oddson has given the guarantees to Russia in the ongoing negotiations over the much-needed loan, newspaper FiskeriblandetFiskaren reports with reference to Rossiiskaya Gazeta.
Negotiations between the parts are reported to proceed successfully. It is expected that both the Russian State Duma and President Dmitrii Medvedev will support the credit.
Meanwhile, the effects of the financial crisis is hitting ordinary people on Iceland with full effect. According to Norwegian newspaper Aftenposten, Iceland now only has food supplies for another month. The country buys 50 percent of all food from abroad and needs new finances for the acquisition of new supplies.
