Iraqi debt Moscow, Nov 6, SPA -- Russia is ready to begin negotiations withIraq on canceling a significant amount of its multibilliondollar debt, a senior Russian diplomat said Saturday. "We ... are prepared to have the debt significantlyreduced and also to reach agreements on the repayment ofthe remaining part of the debt," Deputy Foreign MinisterYuri Fedotov was quoted as telling the Interfax newsagency. President Vladimir Putin said last year that Russia inprinciple would be willing to write off more than half ofIraq's US$8 billion (¤6 billion) debt to Moscow through theParis Club of creditor nations, an informal group ofcreditor governments from major industrialized countries. Fedotov said negotiations haven't yet begun. "But we are willing to talk either with the existingIraqi government or with the one to come to power viaelections, which we hope will take place on time in Januarynext year," Fedotov was quoted as saying.--SPA1338 Local Time 1038 GMT www.spa.gov.sa/215710