Russia and Iraq will sign an intergovernmental agreement writing off 90 percent of the nation's US$10.5 billion (¤8.1 billion) debt to Moscow by the end of the year, a Russian Finance Ministry spokesman said Friday. Officials are determining the exact amount of Iraq's debut, spokesman Andrei Saiko said. "Work will be completed by the end of the year," he said. In November, the economic powers in to the so-called Paris Club, including the United States, Japan, Russia and European nations, announced they would write off 80 percent _ or more than US$31 billion (¤23.9 billion) of the debts Iraq owes them. President Vladimir Putin said then that under the deal, Russia was writing off more than 90 percent of the debt owed by Iraq.