The long-running diplomatic financial scandal between Russia and France has even caught a church in the crossfire.

15.01.2018

Since 1867, generations of French citizens in possession of 100-year-old bonds from the time of Alexander II have not dropped the belief that Russia eventually will pay them back.

Even after 100 years, letters to the Russian government from the French association AFPER acting as the head organization in charge of these proceedings and a voice for these 400 000 strong citizens, continue to be sent.

The subject? Demanding the repayment of these debts to individual French citizens that are presently valued at around 53 billion euros, according to RFI.

In 1867, Russian railway companies issued bonds on behalf of the government guaranteed against gold. Tens of thousands of French investors jumped on the opportunity, some of which pulled out in time before Vladimir Lenin, in 1918, issued a decree repudiating all bonds issued by the Tsarist government. Most of these investors, however, were not as lucky.

This could explain why the children, grandchildren and each generational step, continue to pass down messages of ‘’hope’’ in their will to continue the fight for the billions of what they regard as ‘’lost capital’’.

Dialogue between Russia and France has made their case weak as various agreements have continued to work against them.

In 1997, an agreement was made between Moscow and Paris calling the debt from the Russian Empire fully repaid but these 400 000 citizens refuse to call it quits and every year that passes unravels even more of these ‘’Nicholas bonds’’ previously hidden in the attics and basements of France. This has coincided with the overall increase in membership of the AFPER association.

In a desperate move in 2009, after a court decision on the property rights of Saint Nicolas Orthodox Cathedral in Nice, the AFPER expressed its intentions to seize it. Since then, there have been no actions taken in relation to these intentions.

Dennis Vance is a writer and blogger based in Moscow, Russia. He started the Kremlinology blog in 2016 and has continued to write about Russian affairs, geopolitics and everything in between.

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Emprunts russes: 100 ans après, les descendants espèrent encore le remboursement