Head of a visiting Iraqi delegation said Monday that Russia has promised to write off part of Iraq's debt, adding that his country would welcome any Russian company to do business there, Interfax news agency reported.

Abdel-Aziz al-Hakim, chairman of the Iraqi Interim Governing Council, told a press conference after meeting with President Vladimir Putin that he received a "very generous" promise from the Russian side to partially write off Iraq's debt, which Russia puts at 8 billion US dollars.

Another Iraqi official Jalal Talabani said that the debt would be reduced to 3.5 billion US dollars and the rest would be restructured with the Paris Club, an association of creditor nations.

Talabani added that Russia had assured that it was ready to revise the remaining 4.5 billion US dollars if Russian companies receive contracts in Iraq.

There has been no confirmation from the Russian authorities over the statement by the Iraqi delegation so far. Russian Energy Minister Igor Yusufov said after the meeting that "Russia will act in a civilized manner within the internationally accepted rules to ease the economic burden of Iraq."

Russian Deputy Foreign Minister Alexander Saltanov vowed that Russia is ready to "constructively discuss" the debt issue. During the meeting, Putin also expressed the desire that his country would attend reconstruction in the post-war Iraq and pledged a 4-billion-dollar investment from Russian companies in the near future.

Responding to Putin's remarks, al-Hakim promised that Iraq would be open to Russian companies.

"Russian companies have broad opportunities for working in Iraq and for competing with other companies. We would like Russia to provide real help in the restoration of Iraq," he was quoted by Itar-Tass as saying.

The Iraqi leader specified that the main help Russia can offer includes the promotion of the role of the United Nations in resolving the problems of Iraq and the transfer of power to the Iraqi people.

Iraq has suggested that negotiations be resumed with Moscow on Russian contracts and further cooperation programs at the expert level, and the two sides will hold consultations through diplomatic channels in the near future, said Yusufov. Moscow has expressed its disapproval of Washington's attempt to bar nations that had opposed the US-led war against Iraq from bidding for contracts to rebuild the country.

Russia, a strong opponent to the unauthorized military attacks in Iraq, sticks to the right of participation of its companies in Iraq's rebuilding program.

(Xinhua News Agency December 23, 2003)