The German Loan to the USSR in Bilateral Negotiations and from the Position of the Western Powers

The early 1920s was a period of restoration of the states that had participated in the First World War. In Soviet Russia, this process took place within the framework of the New Economic Policy, which required, among other things, investing foreign capital. After the October Revolution of 1917, the Soviet government cancelled the debts of the tsarist and provisional governments. The discussion of debts between Soviet Russia and Entente countries did not lead to a mutually acceptable solution. Germany became one of the first countries, that established economic and then politic relations with the soviet government. That is why, Germany became one of the most important economic partners of Soviet Russia and later of the USSR. The article is devoted to the problem of granting loan to the USSR by Germany. The author reveals the difficulties and contradictions that accompanied the negotiation process, as well as the position of Great Britain and the United States in relation to the German-Soviet credit negotiations.