When Vladimir Putin was elected President of Russia in 2000, the country owed $16 billion to the International Monetary Fund, and its debt to the Rothschild-controlled ‘’Paris and London Club Of Creditors’’ was over $36 billion.
But Putin took advantage of the boom in world oil prices to redirect a portion of the profits of Russia’s largest oil producer Gazprom to pay off the nation’s debt. The continuing surge in oil prices greatly accelerated Russia’s capacity to restore financial sovereignty.
Since 2006, as well as fully repaying these debts, Russia has written off a large part of the debt developing countries owed to it.
In total, Russia has forgiven more than $100 billion in debt owed by developing countries (including Cuba, Iraq, North Korea, and much of Africa) over the past decade.
This is the REAL reason the global banking elite and their puppet governments in the West demonize Putin — Russia has effectively escaped the clutches of their rapacious hegemony and neoliberal austerity doctrine, restored its own national financial sovereignty, and set the ‘dangerous’ precedent of unilaterally writing off unpayable or crippling debt.
All Wars Are Bankers’ Wars (video) 
*Orbis Non Sufficit* 