December 4, 2025

Settlement of Financial Issues at the Soviet-Polish Peace Conference in Riga: January--March 1921

Key Points

Settlement reached on all financial obligations, improving ties between Poland and Russia.
Key negotiations focused on gold payments and alternative concessions proposed by Russia.
Compromise solution included selling Soviet gold to satisfy Polish demands progressively.
Successful agreements were critical for normalizing relations post-conference.

Abstract

The article deals with the financial and economic aspects of the negotiations at the Riga Peace Conference in January --- March 1921, in particular Polands demands to Soviet Russia in connection with the latters obligations under the preliminary peace treaty. Particular attention is paid to the discussion of the forms of payment: the Polish delegation insisted on gold, while Russia offered concessions as a more acceptable alternative. As a compromise solution, the plan of the Commissar of Foreign Trade, L. Krasin, was put forward for the Polish government to sell the Soviet gold with a certain percentage in favour of Poland, which would gradually amount to the sum due to Warsaw. In the end, the delegations managed to agree on all procedures connected with the fulfillment of financial obligations. The Riga Conference ended with the successful settlement of all disputed issues, which contributed to the normalization of relations between the two states.

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