Search results
Results from the WOW.Com Content Network
The Soviet Union sold most of its oil and natural gas exports for United States dollars but bought most of its hard currency imports from Western Europe. The lower value of the United States dollar meant that the purchasing power of a barrel of Soviet crude oil, for example, was much lower than in the 1970s and early 1980s.
The Soviet invasion of Lithuania, Estonia and Latvia [107] [149] [page needed] in June 1940 resulted in the Soviet occupation of states on which Germany had relied for 96.7 million Reichsmarks of imports in 1938 at blackmailed favorable economic terms, [12] but from which they now had to pay Soviet rates for goods. [148]
The German–Soviet Economic Agreement of 12 October 1925 formed the contractual basis for trade relations with the Soviet Union. In addition to the normal exchange of goods, German exports to the Soviet Union from the very beginning utilized a system negotiated by the Soviet Trade Mission in Berlin by which the Soviet Union was granted credits for the financing of additional orders in Germany ...
A major strength of the Soviet economy was its enormous supply of oil and gas, which became much more valuable as exports after the world price of oil skyrocketed in the 1970s. As Daniel Yergin notes, the Soviet economy in its final decades was "heavily dependent on vast natural resources–oil and gas in particular".
The foreign trade of the USSR was a government monopoly and was conducted by the Ministry of Foreign Trade. This ministry maintained control over the planning and operation of foreign trade through main administrations for imports and exports and for certain large geographical areas, as well as through foreign-trade corporations holding ...
Soviet delegation with Trotsky greeted by German officers at Brest-Litovsk, 8 January 1918. Lenin, once in power, believed the October Revolution would ignite the world's socialists and lead to a "World Revolution." Lenin set up the Communist International (Comintern) to export revolution to the rest of Europe and Asia. Indeed, Lenin set out to ...
Although the Revolutions of 1989 did not formally end Comecon, and the Soviet government itself lasted until 1991, the March 1990 meeting in Prague was little more than a formality, discussing the coordination of non-existent five-year plans. From January 1, 1991, the countries shifted their dealings with one another to a hard currency market ...
The German–Soviet Credit Agreement (also referred to as the German–Soviet Trade and Credit Agreement) [1] was an economic arrangement between Nazi Germany and the Soviet Union whereby the latter received an acceptance credit of 200 million ℛ︁ℳ︁ over seven years with an effective interest rate of 4.5 percent.