13. National Security Decision Memorandum 180 Council on International Economic Policy Decision Memorandum 91
- The Secretary of State
- Lend-Lease Negotiations with the USSR
The President has reviewed progress on lend-lease negotiations with the Soviet Union, considered the recommendations contained in the State Department’s memorandum of July 10, 1972,2 and directed that the following should govern the US position when negotiations are resumed with the USSR:
—We should initially indicate that, for the purpose of these negotiations, we are willing to settle for a stream of payments sufficient to retire $500 million at 5% or $750 million at 2%, beginning in 1972 and terminating in 2001.
—Our negotiator is empowered, with the concurrence of the Chairman of the US side of the US-USSR Commercial Commission, to fall back progressively to a position of $500 million at 4½% or $687.5 million at 2%.
—If the Commercial Commission’s negotiations in other areas seemingly might justify other terms, such as extending the terminal payment date, our negotiator should request the Chairman to seek further guidance from the President.[Page 37]
—If an overall agreement is not reached with the Soviets, our negotiator should indicate that we would expect the Soviets to resume payments owed to us on the “pipeline” account.3
- Source: National Archives, Nixon Presidential Materials, NSC Files, NSC Institutional Files (H-Files), Box H–235, NSDMs 151–200, Originals. Secret. Copies were sent to the Secretaries of Treasury and Commerce. On July 21, a copy of the NSDM was forwarded to Moscow for Peterson in telegram 131920/Topet 17. (Ibid., Box 953, VIP Visits, Pete Peterson’s Moscow Visit (Commerce), 17 Jul–3 Aug 72 [2 of 2]) Peterson visited Moscow from July 20 to August 1 for the first meeting of the U.S.-USSR Joint Commercial Commission.↩
- The Department’s summary of the status of Lend-Lease negotiations with the Soviet Union as of July 10 is ibid., Box 720, Country Files—Europe—USSR, Vol. XXIII, June–July 1972 [1 of 1].↩
- A reference to the lend-lease “pipeline account,” which provided American goods to the Soviets immediately following World War II, and which the Soviets had been paying off since 1954.↩