The Russian government has decided to forgive a substantial amount of debt owed by Tajikistan. The energy ministers of the two countries, Sergey Tsivilev from Russia and Daler Juma from Tajikistan, signed a document initiating the process of canceling the debt. The amount in question is 25.3 billion rubles, equivalent to approximately 3.257 billion Tajik somoni. This debt accumulated from electricity supplies from the Sangtuda-1 HPP, a joint Russian-Tajik enterprise. The write-off process will be gradual and is expected to be completed by 2034.
This news became public after the lower house of Tajikistan's parliament approved the relevant amendments to the intergovernmental agreement. According to the updated document, the deadline for the return of Russian investments in the project was also extended to 2048. The Sangtuda-1 HPP is a strategically important facility, as Russia owns 75% of the shares in the enterprise, which is valued at $847 million. This hydroelectric power plant generates about 12% of all electricity in Tajikistan. Meanwhile, the cost of purchasing electricity from this HPP will gradually increase.
Against the backdrop of such generosity towards foreign partners, the financial burden on ordinary Russians continues to grow. Starting from July 1st, another significant increase in utility tariffs is planned in Russia, including an almost 13% hike in electricity prices. It turns out that while the government forgives multi-billion dollar debts to other countries, its own citizens are forced to pay more and more. In this way, the Kremlin is effectively shifting the costs associated with waging war and the economic consequences of sanctions onto the shoulders of its population.
This Russia forgives Tajikistan's debt is not a unique case or an act of goodwill. It is part of a larger strategy through which Russia tries to maintain its political influence in the post-Soviet space. Debt forgiveness is used as a tool to keep countries in its orbit, ensuring their loyalty and political dependence. This is an attempt to play the role of a "great power" that can afford such grand gestures.
Similar financial concessions have been made to other countries before. For example, Belarus was granted a seven-year deferral on its debt payments. There were also reports that the Kremlin used promises of debt relief as an incentive for leaders of other states to attend the May 9th parade in Moscow. Among the countries rumored to have been offered such a "bonus" was Tajikistan. Therefore, the fact that Russia forgives Tajikistan's debt is not just an economic decision but a calculated political move aimed at strengthening Russia's position in the region at the expense of its own citizens.
