49. National Security Decision Memorandum 190
International Economic Policy Decision Memorandum 121
- The Secretary of State
- Lend-Lease Negotiations with the USSR
I have reviewed the status of lend-lease negotiations with the Soviet Union. The US position at the resumption of negotiations shall be based on the following points:
1. The agreement shall state the total Soviet obligation to the United States, including principal and interest on the “pipeline” account and the regular lend-lease debt. I reserve the decision concerning the amount of the total obligation until I have had an opportunity to review the progress of all commercial and related negotiations scheduled to resume in September.
2. All Soviet payments are to be completed by the year 2001.
3. Payments shall be as follows:
—Based on a “pipeline” debt of $46 million at 2⅜% interest there shall be one Soviet “pipeline” payment in 1972 representing a quarter of the total “pipeline” debt; a double “pipeline” payment in 1973 representing half the total “pipeline” debt; and a final “pipeline” payment in 1975 representing the last quarter of the total “pipeline” debt.[Page 179]
—Beginning in 1974 or with the granting of MFN status to the USSR, whichever is later, there shall be a stream of payments of equal annual installments on the regular lend-lease debt to be completed by the year 2001.
4. The Soviet Union shall have the option to defer a total of four annual installment payments on the regular lend-lease obligation, with the stipulation that if this option is exercised the final payment of the total obligation shall still be completed by the year 2001. Annual installments shall be adjusted to reflect any installment not paid by reason of the USSR’s exercising its deferment option. The interest on deferred installments shall be 3½%.
The US negotiator shall work out a precise US negotiating position based on the above points in coordination with, and with the approval of the Secretary of Commerce whose representative shall participate in all aspects of the negotiations.
NSDM 180/CIEPDM 9 of July 20, 19722 is superseded by this Memorandum.
The contents of this Memorandum shall be made known to authorized officials of the US Government on a highly restricted “exclusively need to know” basis. Stringent measures are to be taken to prevent leaks concerning these negotiations and to ensure that there are no contacts with or briefings of the press except as expressly authorized by me. There are to be no briefings or consultations with the Congress until expressly authorized by me.
- Source: National Archives, Nixon Presidential Materials, NSC Files, Box 495, President’s Trip Files, Dobrynin/Kissinger, Vol. 13. Secret; Sensitive; Nodis. Copies were sent to the Secretaries of Commerce and Treasury.↩
- Document 13.↩